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Information of Product linked incentive scheme (PLI)

information about Product linked incentive scheme (PLI) ?

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi announced the Production-Linked Incentive (PLI) Scheme in the Automobile and Auto Components sectors. The PLI scheme (outlay of $3.5 Bn) for the automobile sector proposes financial incentives of up to 18% to boost domestic manufacturing of advanced automotive technology products and attract investments in the automotive manufacturing value chain. Incentives are applicable for determined sales of products manufactured in India from April 1, 2022, for a period of five consecutive years.

The Ministry of Heavy Industries has announced the extension of the tenure of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with partial amendments. Under the amended scheme, the incentive will be applicable for a total of five consecutive financial years, starting from the financial year 2023-24. The disbursement of the incentive will take place in the following financial year 2024-25. The scheme also specifies that an approved applicant will be eligible for benefits for five consecutive financial years, but not beyond the financial year ending on March 31, 2028.



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Recent Developments:

  • Total of 115 companies had filed their application under this scheme. Out of which 85 applicants have been approved under this PLI scheme - 18 applicants for Champion OEM Incentive scheme and 67 applicants have been approved under Component Champion Incentive scheme.
  • The scheme has been successful in attracting proposed investment of INR 67,690 Cr against the target estimate of investment INR 42,500 crore over a period of five years.
  • Apart from Indian business groups, approved applicants for Champion OEM Incentive scheme include groups from countries such as Republic of Korea, USA, Japan, France, Italy, UK and Netherlands.

By - dwarkadhish overseas

The scheme covers sector such as:

    Scheme :

  • Auto Component
  • Automobile
  • Aviation
  • Chemicals
  • Electronic Systems
  • Food Processing
  • Medical Devices
  • Metals & Mining
  • Pharmaceuticals
  • Renewable Energy
  • Telecom
  • Textiles & Apparel
  • White Goods

By - dwarkadhish overseas
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What Our Clients Says

They are very fast in getting work done. They resolved each and every query of ours. We were not aware of the export incentive they approached us and helped us to claim the incentives.

Baljeet Chawla

Trumen Technologies Pvt. Ltd.

Our IGST refunds were pending due to some errors Dwarkadhish approached us and helped getting refund as soon as possible. Even We have not met in personal they are doing all our GST work.

Sachin

Sidharth foods pvt. Ltd.

Mr. Sai Kiran approached us and told about the incentive benefits we were not aware of and they tried to claim that as soon as possible.

Shyam Sundar

Orient black swan pvt. Ltd.

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