Indian Govt approves 75 auto component makers for incentives under PLI Scheme

  • Industry News
  • Mar 19,22
Ninety two auto component manufacturers had applied for the scheme, which has sanctioned outlay of Rs 26,000 crores for the automotive sector
Indian Govt approves 75 auto component makers for incentives under PLI Scheme

New Delhi; March 15, 2022: 

The government has approved 75 auto component manufacturers for incentives under the PLI scheme for automobile and auto components. Ninety two auto component manufacturers had applied for the scheme.

The PLI scheme for automobile and auto component industry, for five years, commencing FY 22-23 has an outlay of Rs 26,000 crores. A total of 115 companies, auto and auto components, had filed their application, of which 20 OEMs have been already accorded approval for incentives in February 2022.

The objectives of the scheme are helping the industry in overcoming cost disabilities, creating economies of scale and building a robust supply chain in areas of Advanced Automotive Technologies (AAT). The scheme will facilitate the automotive industry to move up the value chain into higher value-added products, apart from generating employment. The scheme will provide incentive of up to 18 per cent, to encourage industry to make fresh investments in indigenous supply chain of AAT products.

Automotive Component Manufacturers Association of India (ACMA) has welcome the move. Commenting on the approval of the list of component manufacturers for incentives under the PLI scheme, Sunjay J Kapur, President ACMA & Chairman Sona Comstar, said, “Today’s announcement has indeed enthused the entire auto component industry and will be a catalyst in our transformational journey from a conventional industry to a mobility industry.  We are indeed very thankful to the government for its generous selection of companies that will benefit from the scheme. That apart, a slew of policy measures announced in the recent past including the extension of FAME-2 scheme, the PLI on ACC battery, the policy initiative on battery swapping and energy as service, among others, will create a new paradigm of technological excellence in the automotive supply chain in India to make it globally competitive.”

Thanking the Government for the initiative, Vinnie Mehta, Director General, ACMA, said “The PLI scheme will not just help the component manufacturers become globally competitive but will provide a much-needed momentum to the ‘Make in India’ initiative. The scheme will lead to additional employment opportunities in India and provide an impetus to the industry to invest in cutting edge technologies to stay relevant.”

Following is the list of applications approved under Component Champion Incentive Scheme:

Existing Automobile and Auto Component Manufacturing companies approved under Component Champion Incentive Scheme:
  1. Maruti Suzuki India Limited
  2. Pinnacle Mobility Solutions Private Limited
  3. Bharat Forge Limited
  4. Hero MotoCorp Ltd.
  5. Advik Hi-Tech Private Limited
  6. Aisin Automotive Haryana Private Ltd.
  7. Alicon Castalloy Limited
  8. Aptiv Components India Private Limited
  9. Aptiv Connection Systems India Private Limited
  10. Asahi India Glass Ltd.
  11. Asia Investments Private Limited
  12. Automotive Axles Limited
  13. Axletech India Private Limited
  14. BASF Catalysts India Private Limited
  15. Bosch Automotive Electronics India Private Limited
  16. Bosch Chassis Systems India Private Limited
  17. Bosch Limited
  18. Cummins Technologies India Private Limited
  19. Daicel Safety Systems India Private Limited
  20. Dana Anand India Private Limited
  21. Dana TM4 India Private Limited
  22. Danblock Brakes India Private Limited
  23. Delphi-TVS Technologies Limited
  24. Denso Ten Minda India Private Limited
  25. Garrett Motion Technologies India Private Limited
  26. Hella India Automotive Private Limited
  27. Hero Cycles Limited
  28. Imperial Auto Industries Limited
  29. International Tractors Limited
  30. J.K. Fenner (India) Limited
  31. Jay Ace Technologies Limited
  32. Jay Fe Cylinders Limited
  33. KalyaniTechnoforge Limited
  34. Krishna Landi Renzo India Private Limited
  35. Krishna Maruti Ltd.
  36. Kyungshin Industrial MothersonPvt Ltd
  37. Linchpin Technologies Private Limited
  38. Lucas-TVS Limited
  39. Lumax Auto Technologies Limited
  40. MahleAnand Thermal Systems Private Limited
  41. Mando Automotive India Private Limited
  42. Minda Corporation Limited
  43. Minda Industries Limited
  44. Mitsubishi Electric Automotive India Private Limited
  45. Motherson Sumi Systems Limited
  46. Motherson Sumi Wiring India Limited
  47. Musashi Auto Parts India Private Limited
  48. Napino Auto and Electronics Limited
  49. Neel Metal Products Limited
  50. Neolite ZKW Lightings Private Limited
  51. Nidec India Private Limited
  52. Padmini VNA Mechatronics Limited
  53. Pricol Limited
  54. Rockman Industries Limited
  55. Sandhar Technologies Limited
  56. Sansera Engineering Limited
  57. Schaeffler India Limited
  58. Sharda Motor Industries Limited
  59. Sona BLW Precision Forgings Limited
  60. Steel Strips Wheels Limited
  61. Sundram Fasteners Limited
  62. Tata Autocomp Systems Limited
  63. Tata Cummins Private Limited
  64. Tata Ficosa Automotive Systems Private Limited
  65. The Hi-Tech Gears Limited
  66. Toyota Industries Engine India Private Limited
  67. Toyota Kirloskar Auto Parts Private Limited
  68. Tube Investments Of India Limited
  69. Valeo India Private Limited
  70. Varroc Engineering Limited
  71. Vitesco Technologies India Private Limited
  72. Wabco India Limited
  73. Yazaki India Private Limited

New Non-Automotive Investor (Component) companies
Sl. No. Applicant Name
  1. Bharat Heavy Electricals Limited
  2. Ceat Limited

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