 "auto components")
The productivity-linked incentive (PLI) scheme for the automotive sector, which got notified last week, would help manufacturers introduce new technologies with higher local content.
It would also reduce imports from countries like China, Taiwan and South Korea and facilitate foreign collaborators to set up manufacturing footprint in India, said executives of auto component firms. This, in turn, could also make India an export hub, they added.
India imported parts worth $13.8 billion in FY21 while it exported $13.3 billion worth of parts in the same year, according to Automotive Component Manufacturers Association (ACMA). The PLI is expected to
It would also reduce imports from countries like China, Taiwan and South Korea and facilitate foreign collaborators to set up manufacturing footprint in India, said executives of auto component firms. This, in turn, could also make India an export hub, they added.
India imported parts worth $13.8 billion in FY21 while it exported $13.3 billion worth of parts in the same year, according to Automotive Component Manufacturers Association (ACMA). The PLI is expected to
