Context :
Extract:
PLI Scheme: Cos Invest 13K cr to produce Green Vehicles, Parts
Extract:
The Indian government has given the green light to the Production Linked Incentive (PLI) scheme aimed at boosting the country's auto industry.
This scheme targets the advancement of electric vehicles and fuel-efficient automobiles. The government predicts that over the next five years, this initiative could result in the production of an additional 2.3 million vehicles, potentially creating more than 750,000 new job opportunities.
In a bid to support the growth of electric mobility and cutting-edge auto parts manufacturing technologies, the PLI scheme intends to encourage the production and export of electric vehicles, hydrogen-fuel cell cars, and sophisticated auto components.
Various components like high-voltage connectors, charging ports, hydrogen fuel cells, and advanced electronic parts are expected to be incentivized under this scheme.
My Take:
DEAR SHRI GADKARIJI : THIS IS YOUR CHANCE TO MAKE INDIA, WORLD LEADER IN ELECTRIC VEHICLES…….23/11/2023
"The PLI scheme for the auto sector, as proposed two years ago, aligns perfectly with the recent government initiatives to boost electric vehicle production.
My recommendations regarding incentives for manufacturers to adopt advanced technologies and not just buyers receiving subsidies are now coming to fruition.
The focus on Lithium-ion batteries and the necessity to reduce barriers for EV commercialization are steps in the right direction as seen in the current PLI scheme."
LIGHT, CAMERA, ACTION……14/09/2021
"The recent approval of the PLI scheme underscores the importance of incentivizing technological advancements in the auto sector.
The emphasis on promoting the production and export of electric vehicles and cutting-edge auto parts aligns with my earlier suggestions for tax incentives to drive innovation and development in the electric mobility ecosystem.
The inclusion of components like electronic power steering systems and driver monitoring technologies mirrors the forward-looking approach advocated in the current scheme."
Call to Action:
To the policymakers and industry stakeholders involved in the PLI scheme for the auto sector, I urge you to continue focusing on innovation and sustainability.
Encouraging the development and adoption of electric vehicles and advanced auto parts is crucial for a greener and more efficient automotive industry.
Let's collaborate to realize the full potential of these initiatives and drive the nation towards becoming a global leader in electric mobility.
With regards,
Hemen Parekh
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