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Business Standard

PLI scheme: Auto component companies hope to pare imports

It would also reduce imp­orts from countries like China, Taiwan and South Korea and facilitate foreign collaborators to set up manufacturing footprint in India

Topics
PLI scheme | Auto components industry | imports

Shally Seth Mohile  |  Mumbai 

auto components
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 productivity-linked incentive (PLI) scheme for the automotive sector, which got notified last week, would help manufacturers introduce new technologies with higher local content.

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Read our full coverage on PLI scheme

First Published: Mon, September 27 2021. 22:34 IST

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