Champion OEMs Receive PLI Approval

20 CHAMPION OEMS OF THE 115 COMPANIES THAT FILED UNDER THE PLI SCHEME HAVE GOT THEIR APPROVAL. ASHISH BHATIA SHARES THE DETAILS OF COMPANIES THAT CUT ABOVE THE REST.

- ASHISH BHATIA

Harsha Kadam - Managing Director & CEO - Schaeffler India

The Production Linked Incentive (PLI) scheme had 115 companies filing applications to avail incentives under the scheme with an Rs.25,938 crore outlay. This was till the set deadline on January 09, 2022. The companies had applied to be eligible for incentives applicable under the scheme for the determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from April 01, 2022, onwards for the next five years. On processing the applications, it is learnt, the Ministry of Heavy Industries (MHI) processed the applications. 20 applicants (along with their 12 subsidiaries) have been approved under the Champion OEM Incentive scheme. Applications for the Component Champion Incentive scheme are being processed separately and will be notified soon.

Sudhir mehta, Chairman and Managing Director at Pinnacle Industries Ltd.