NEW DELHI: The Ministry of Heavy Industry (MHI), chaired by Union minister Mahendra Nath Pandey, on Tuesday, will review the production linked incentives (PLI) scheme for the auto industry. The conference, according to the government, aims to bring together stakeholders -- PLI-Auto applicants, PMA, Test Agencies etc -- to review the performance of the scheme and address all concerns and challenges.
In the automotive sector, the Ministry has launched various flagship programs, one of which is the PLI scheme for Automobile & Auto Components (outlay of Rs 25,938 crore). The cascading effect of these schemes will lead to the growth of the automotive industry and it is poised that the Indian automotive industry will rank number three in the world by 2030, MHI said in a press statement.
The ministry considers the PLI-Auto applicants as one of the crucial stakeholders of the scheme. As per MHI, the goal of deep localization and development of Advanced Automotive Technology (AAT) Products within the country cannot be achieved without the support and growth of the industry. “Central government takes moral responsibility to reinforce this important industry by providing financial support as well as a conducive environment to nurture innovation and technology,” MHI said in a statement.