{"id":136982,"date":"2021-09-25T20:05:46","date_gmt":"2021-09-25T14:35:46","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=136982"},"modified":"2021-09-29T14:40:36","modified_gmt":"2021-09-29T09:10:36","slug":"government-notifies-pli-scheme-for-automobile-auto-components","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/government-notifies-pli-scheme-for-automobile-auto-components\/","title":{"rendered":"Government Notifies PLI Scheme for Automobile &#038; Auto components"},"content":{"rendered":"\n<h5><b>What is the News?<\/b><\/h5>\n<p><span style=\"font-weight: 400;\">The government of India has issued notification regarding <strong>Production Linked Incentive (PLI) Scheme<\/strong> for Automobile &amp; Auto components.\u00a0<\/span><\/p>\n<h5><b>What is the Production<\/b><b> Linked Incentive (PLI) Scheme for Automobile &amp; Auto components?<\/b><\/h5>\n<p><b>Aim:<\/b><span style=\"font-weight: 400;\"> To overcome the cost disabilities of the industry for the manufacture of Advanced Automotive Technology products in India.<\/span><\/p>\n<h5><b>Key Features of the Scheme<\/b><\/h5>\n<p><b>Eligibility<\/b><span style=\"font-weight: 400;\">: The scheme is open to existing Automotive companies as well as new Non-Automotive investor companies (who are currently not in the automobile or auto component manufacturing business).<\/span><\/p>\n<p><b>Duration:<\/b><span style=\"font-weight: 400;\"> The scheme will be implemented over a period of five years starting from FY 2022-2023.<\/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 to Battery Electric Vehicles and Hydrogen Fuel Cell Vehicles of all segments.<\/span><\/p>\n<p><b>Component Champion Incentive Scheme:<\/b><span style=\"font-weight: 400;\"> It is a \u2018sales value linked\u2019 scheme, applicable on pre-approved Advanced Automotive Technology components of all vehicles. Pre-approval of the eligible products will be done by Testing Agency.<\/span><\/p>\n<p><b>Base year:<\/b><span style=\"font-weight: 400;\"> Financial Year 2019-20 shall be treated as the Base Year for calculation of Eligible sales. An approved applicant shall be eligible for benefits for 5 consecutive Financial Years.<\/span><\/p>\n<p><b>Any eligible product <\/b><span style=\"font-weight: 400;\">will be incentivized only for once \u2013 <\/span><b>Component level or Vehicle level.<\/b><\/p>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><strong>Read more<\/strong>:\u00a0<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>Minimum 50% domestic value addition <\/b><span style=\"font-weight: 400;\">will be required to avail incentives under the scheme.<\/span><\/p>\n<p><b>The incentive will be applicable <\/b><span style=\"font-weight: 400;\">on the Determined Sales Value, which is defined as the incremental eligible sales of a particular year over the base year.<\/span><\/p>\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">This post is based on the article <\/span><b>\u201d<\/b><b>Government Notifies PLI Scheme for Automobile &amp; Auto components<\/b><b>\u201d<\/b> published in<b> PIB <\/b>on <b>25th September 2021.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the News? The government of India has issued notification regarding Production Linked Incentive (PLI) Scheme for Automobile &amp; Auto components.\u00a0 What is the Production Linked Incentive (PLI) Scheme for Automobile &amp; Auto components? Aim: To overcome the cost disabilities of the industry for the manufacture of Advanced Automotive Technology products in India. Key&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/government-notifies-pli-scheme-for-automobile-auto-components\/\">Continue reading <span class=\"screen-reader-text\">Government Notifies PLI Scheme for Automobile &#038; Auto components<\/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":[1566,1738,9,959],"tags":[8671,9640,9639],"class_list":["post-136982","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-science-and-technology-daily-factly-articles","category-public","category-schemes","tag-changes-in-industrial-policy","tag-pli-scheme","tag-production-linked-incentives","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/136982","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=136982"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/136982\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=136982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=136982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=136982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}