The Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India has been successful in attracting proposed investment of Rs 74,850 crore against the target estimate of investment Rs 42,500 crore over a period of five years. The proposed investment of Rs 45,016 crore is from approved applicants under Champion OEM Incentive Scheme and Rs 29,834 crore from approved applicants under Component Champion Incentive Scheme. A total of 115 companies had filed their application under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India which was notified on 23 September 2021.
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