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 and auto industry as the sector is not sufficiently globally competitive today.