India Business News: Prime Minister Narendra Modi said on Friday that PLI schemes, aimed at boosting domestic manufacturing and exports under the 'Make in India' and Atman
Incentivise localisation, enhanced domestic value-addition: Auto sector
March 05, 2021
There is a need to develop industrial infrastructure and ensure availability of skilled resources, say industry bodies - The Hindu
There is a need to develop industrial infrastructure and ensure availability of skilled resources, say industry bodies - The Hindu×
‘Need to boost competitiveness, attract investments’
The auto industry on Friday said the production-linked incentive (PLI) scheme is required for both component as well as auto industries, as they are not sufficiently competitive globally.
Industry bodies Society of Indian Automobile Manufacturers (SIAM) and Automotive Components Manufacturers Association of India (ACMA) have recommended incentivising enhanced domestic value-addition and localisation to leverage on the $25- billion import substitution opportunity.
Updated Mar 05, 2021 | 19:07 IST
SIAM and ACMA recommended incentivising enhanced domestic value-addition and localisation to leverage on the USD 25 billion import substitution opportunity. SIAM and ACMA suggest incentivising enhanced automobile localisation | Photo Credit: Representative Image
Automobile and auto components industry bodies SIAM and ACMA on Friday recommended incentivising enhanced domestic value-addition and localisation to leverage on the USD 25 billion import substitution opportunity but said the production linked incentive (PLI) scheme should not cannibalise existing exporters by incentivising new players. In a presentation at the PLI event organised by Department for Promotion of Industry and Internal Trade (DPIIT) and Niti Aayog, Society of Indian Automobile Manufacturers (SIAM) President Kenichi Ayukawa and CII Manufacturing Council Chairperson Baba Kalyani stressed that PLI scheme is required for Indian auto component a
The government needs to look at incentivising enhanced domestic value-addition to leverage the large imports substitution ($25 billion) opportunity that exists in the sector, said Baba Kalyani, who is also the chairman at Bharat Forge, whose businesses include automobile components.
The Union Minister for Road Transport and Highways has requested vehicle manufacturers in India to build flex engines that run on more than just one type of fuel. These engines are claimed to produce lesser emissions when running on ethanol.