The Government Government on March 11 completed more than 70 companies for the automatic component pli scheme, according to a report by CNBC-TV18.

PLI stands for incentive schemes related to production.

Leading Names Like Maruti Suzuki, Toyota Components, Delphi TV, Hella India, Fund Group, Bosch, Minda Industry, Auto Tata Components, Bharat Forge are in the list, the report was added.

The government also chose companies from Germany, the United States, the Netherlands, Japan, South Korea, France and Italy for the scheme. The choice has been made for 103 components under the Champion component scheme.

On November 11, 2021, the Union Cabinet approved the incentive scheme (PLI) related to production for 10 sectors. These are drugs, automatic cars and components, telecommunications and network products, sophisticated cell batteries, textiles, food products, solar modules, white goods, and special steel.

Among the components chosen for PLI automatic components, around 8-13 percent of them include security items, Flex fuel, CNG, LNG, emissions control devices, passenger goods, components and fuel efficiency sensors. While 13-18 percent is an incentive for hydrogen and electrical components.

Previously on March 7, trade and Minister of Industry Piyush Goyal said that the announcements and budget steps such as the incentive scheme (PLI) related to production in making independent countries and achieving sustainable development.

“Our budget, both last year and this year, and the ‘Aatmanirbhar Bharat’ program including our PLI scheme is an effort towards us to become independent and also … our commitment to a sustainable future for India,” he said overcoming interactive. Session on the environment at the Indian Pavilion at the Dubai 2020 Expo.

The government has approved 20 applicants for incentives related to production (PLI) for the car and car component industry under the “OEM championship incentive scheme” on February 11, 2022.

Ford, Tata Motors, Suzuki, Hyundai, KIA, and Mahindra & Mahindra are among the 20 companies that will be eligible to receive incentives based on the PLI scheme for the automotive sector and car components, the government said.

As of January 9, 2022, 115 companies have submitted an application based on the PLI scheme for the car and automatic component sector, which was notified in September last year.

Commenting on developments, said an official on February 14 that PLI for the automotive sector and car components will lead to the creation of 7.5 lakh additional work and additional production worth Rs 2,31,500 Crore for the next five years.