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| Name | Auto PLI scheme - A simple analysis of government's approval of 20 companies under the PLI scheme! |
| Video Uploader | Video From Keep it Simple |
| Upload Date | This Video Uploaded At 12-02-2022 11:57:37 |
| Video Discription | This video is in Hindi and covers the following topics: Auto PLI Scheme के under 20 companies को incentive के लिए Select किया गया Maruti का नाम लिस्ट में नहीं PLI is the sum of government incentives that are directly linked to manufacturing performance The more goods companies manufacture in India the better incentives they will get The incentives are of diverse types: subsidies, monetary benefits, etc. The government offers PLIs to both foreign manufacturers and domestic companies While foreign manufacturers are encouraged to start production in India, domestic companies are asked to expand their operations and export The government estimates that the minimum production in India as a result of the PLIs will reach Rs 37.5 lakh crore ($500 billion) in five years. After Covid-19 struck the world in early 2020 and various measures of containment were introduced to stop the spread of the deadly virus, it was crystal clear that most countries, including India, were overly dependent on China for hardware, electronic components and medicines India then introduced the PLI scheme to promote indigenous production, reduce dependence on a single market or geographical region, cut down on imports and make domestic industries globally competitive Since manufacturing is a capital-intensive industry and has a long gestation period, incentivizing capital-rich global firms to set up facilities for incremental output makes more sense This apart, the schemes will help create more than one crore jobs, according to the commerce ministry. Auto components Automobiles, Aviation (drones), Chemicals, Electronic System Food processing, Medical devices, Metals and mining, Pharmaceuticals, Renewable energy, Telecom, Textile & apparel, White goods (consumer durables) and Semiconductors. PRODUCTION LINKED INCENTIVE (PLI) SCHEME FOR AUTOMOBILE AND AUTO COMPONENT INDUSTRY Government has approved the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components Industry in India for Enhancing India’s Manufacturing Capabilities for Advanced Automotive Products with a budgetary outlay of Rs. 25,938 crore. The Production Linked Incentive (PLI) Scheme for Automobile and Auto components proposes financial incentives to boost domestic manufacturing of Advanced Automotive Technology products and attract investments in the automotive manufacturing value chain The Centre has approved 20 companies under the Production Linked Incentive (PLI) scheme for the automobile industry. The ministry of heavy industries in a statement said that the automobile PLI scheme has been a huge success in terms of response received, with the government getting investment proposals worth ₹45,016 crore from approved applicants. Under the scheme, incentive of up to 18% will be given to encourage the industry to make fresh investments in indigenous supply chain of Advanced Automotive Technology (AAT) products. The scheme is a sales value linked scheme, applicable on advanced automotive technology components of vehicles, completely knocked down (CKD), semi-knocked down (SKD) kits. The scheme covers two-wheelers, three-wheelers, passenger vehicles, commercial vehicles and tractors. A total of 115 companies had applied for incentives under the scheme, which was notified on 23 September 2021. Incentives under the Automotive PLI Scheme will be rolled out from 1 April, 2022 for a period of five years. The PLI scheme for the automobile industry was open to existing automotive companies as well as new investors who are currently not in the automobile or auto component manufacturing business. The production-linked incentive (PLI) scheme for the automobile sector is expected to create at least 7.5 lakh jobs in the country Maruti Suzuki is the only notable omission on the list. According to reports, Maruti Suzuki had withdrawn applications in favour of its parent company Suzuki Motor after it failed to meet the criteria. |
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