{"id":134457,"date":"2021-09-16T19:12:49","date_gmt":"2021-09-16T13:42:49","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=134457"},"modified":"2021-09-17T18:54:38","modified_gmt":"2021-09-17T13:24:38","slug":"cabinet-clears-pli-for-auto-sector-to-spur-green-high-tech","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/cabinet-clears-pli-for-auto-sector-to-spur-green-high-tech\/","title":{"rendered":"Cabinet clears PLI for auto sector to spur \u2018green\u2019, high-tech"},"content":{"rendered":"\n<h5><b>What is the News?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">Government of India has approved Production Linked Incentive (PLI) Scheme for Auto Industry and Drone Components.<\/span><\/p>\n<h5><b>About PLI Scheme for Auto Industry<\/b><\/h5>\n<p><b>Aim: <\/b><span style=\"font-weight: 400;\">To <\/span><span style=\"font-weight: 400;\">overcome the cost disabilities to the industry for the manufacture of Advanced Automotive Technology products in India.\u00a0<\/span><\/p>\n<p><b>Eligibility:<\/b><span style=\"font-weight: 400;\"> The scheme is open to existing automotive companies as well as new investors who are currently not in the automobile or auto component manufacturing business.\u00a0<\/span><\/p>\n<p><b>Components<\/b><span style=\"font-weight: 400;\">: The scheme has two components viz\u00a0<\/span><\/p>\n<p><b>Champion OEM Incentive scheme:<\/b><span style=\"font-weight: 400;\"> It is a \u2018sales value linked\u2019 scheme, applicable on Battery Electric Vehicles and Hydrogen Fuel Cell Vehicles of all segments.\u00a0<\/span><\/p>\n<p><b>Component Champion Incentive scheme:<\/b><span style=\"font-weight: 400;\"> It is a \u2018sales value linked\u2019 scheme, applicable to Advanced Automotive Technology components of vehicles.<\/span><\/p>\n<h5><b>Significance of the Scheme<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">The scheme will encourage the industry to make fresh investments for indigenous global supply chains of Advanced Automotive Technology products.\u00a0<\/span><\/p>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><strong>Read more<\/strong>: <a href=\"https:\/\/forumias.com\/blog\/production-linked-incentive-or-pli-scheme-and-its-challenges-explained-pointwise\/\" target=\"_blank\" rel=\"noopener\">Production-Linked Incentive or PLI Schemes and its challenges \u2013 Explained, pointwise<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>About PLI Scheme on Drones and Drone Components<\/b><\/p>\n<p><b>Aim: <\/b><span style=\"font-weight: 400;\">To provide incentives for manufacturers of Drones and Drone Components.<\/span><\/p>\n<p><b>Duration of the Scheme: <\/b><span style=\"font-weight: 400;\">Three years starting FY 2021-22.<\/span><\/p>\n<p><b>Under the scheme<\/b><span style=\"font-weight: 400;\">, incentives will be as high as 20% of the value addition made. The government has also agreed to keep the PLI rate constant at 20% for three years.<\/span><\/p>\n<p><b>Note:<\/b><span style=\"font-weight: 400;\"> In PLI schemes for other sectors, the PLI rate reduces every year.<\/span><\/p>\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">This post is based on the following articles<\/span><b>\u00a0<\/b><\/p>\n<ul>\n<li><b>\u201cCabinet clears PLI for auto sector to spur \u2018green\u2019, high-tech\u201d <\/b><span style=\"font-weight: 400;\">published in<\/span><b> The Hindu on 16th September 2021.<\/b><\/li>\n<li><b>&#8216;Cabinet approves Rs 26,000-crore PLI scheme for auto sector&#8217; <\/b><span style=\"font-weight: 400;\">published in<\/span><b> TOI on 16th September 2021.<\/b><\/li>\n<li><b>&#8220;The Government has approved the Production Linked Incentive (PLI) Scheme for Auto Industry and Drone Industry to enhance India\u2019s manufacturing capabilities&#8221;\u00a0<\/b><span style=\"font-weight: 400;\">published in<\/span><b> PIB on 16th September 2021.<\/b><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What is the News? Government of India has approved Production Linked Incentive (PLI) Scheme for Auto Industry and Drone Components. About PLI Scheme for Auto Industry Aim: To overcome the cost disabilities to the industry for the manufacture of Advanced Automotive Technology products in India.\u00a0 Eligibility: The scheme is open to existing automotive companies as&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/cabinet-clears-pli-for-auto-sector-to-spur-green-high-tech\/\">Continue reading <span class=\"screen-reader-text\">Cabinet clears PLI for auto sector to spur \u2018green\u2019, high-tech<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,956,9],"tags":[9031,8671,9640,9639],"class_list":["post-134457","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-schemes-and-programs","category-public","tag-automobile-sector","tag-changes-in-industrial-policy","tag-pli-scheme","tag-production-linked-incentives","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704755548},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/134457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=134457"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/134457\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=134457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=134457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=134457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}