The Ministry of Heavy Industries here on 27 April announced the release of SOPs under the PLI Auto scheme to testing agencies. With this, the applicants under the scheme can now submit their applications for the testing and certification of AAT products (both OEMs and components), which will help them qualify for incentives under the PLI Auto scheme.
With this move, the Union Minister of Heavy Industries, Dr. Mahendra Nath Pandey, said that the Ministry is trying to align itself with the Prime Minister’s vision of Aatmanirbhar Bharat, and these SOPs will not only help to achieve that but will also help to increase the manufacturing foothold.
The Ministry of Heavy Industries (MHI) notified the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India (PLI-AUTO Scheme or the Scheme) on September 23, 2021, with a budgetary outlay of 25,938 crores. The PLI-Auto Scheme proposes financial incentives to boost domestic manufacturing of Advanced Automotive Technology (AAT) products and attract investments in the automotive manufacturing value chain.