Key Points
More than a year after the 25,938 crore production-linked incentive (PLI) scheme for India's auto sector came into effect, qualified manufacturers await clarity on whether they will receive sops for the first year of the programme...
Though the programme came into effect on April 1, 2022, the SOP got released only on April 27 this year...
The Society of Indian Automobile Manufacturers (SIAM) lobby group wrote to the secretary, ministry of heavy industries (MHI), on May 9 seeking a meeting to seek the release of incentive funds from April 2022..
Automakers say the PLI auto scheme has also been impacted following the discovery that some manufacturers were wrongfully claiming subsidies in another scheme for the auto sector-the Faster Adoption and Manufacturing of Electric Vehicles in India phase-II (FAME-II)..
The PLI scheme for automobile and auto component sectors became operational in April 2022 for a five-year period and incentives were to be distributed to qualified companies at the end of each year...
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