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The Ministry of Heavy Industries has extended the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with partial amendments. The scheme will be applicable for five consecutive financial years, starting from FY24 and ending in 2027-28. The government has also modified the incentive outlay table to Rs. 25,938 crore.

Auto PLI Scheme: The Ministry of Heavy Industries has extended the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with partial amendments. The scheme will be applicable for five consecutive financial years, starting from FY24 and ending in 2027-28. The government has also modified the incentive outlay table to INR 25,938 crore.

The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April ...

Mahindra Last Mile Mobility is the first recipient to successfully meet the criteria for the Automotive PLI certificate from ARAI.

Applicants can submit applications for testing and certification of advanced automotive technology products, which will help them qualify for incentives

Heavy industries ministry said that with the new SOPs, the applicants under the scheme can now submit their applications for the testing and certification of AAT products, both OEMs and components, which will help them qualify for incentives under the PLI schemes

Get latest articles and stories on Latest News at LatestLY. The Union government on Thursday announced the standard operating procedure of the production linked incentive scheme for automobile sector, whereby applicants can submit applications for testing and certification of advanced automotive technology products, which will help them qualify for incentives. Latest News | Govt Releases Standard Operating Procedure Under PLI Scheme for Automobile Sector.