Automobiles, auto component companies score low on PLI scheme in FY24

The government has budgeted Rs 25,938 crore for five years as PLI for this sector

For automobiles and auto components, the year 2023-24 turned out to be lacklustre as far as the production-linked incentive (PLI) scheme is concerned.

Of the 18 players eligible for the scheme — automobile original equipment manufacturers and non-automobile companies — just four received certification for their models from the government. And only three made their claims for the incentive for FY24, for which the deadline closed on September 30.
 

The players include two- and three-wheelers and other categories such as cars and buses. The Centre has budgeted Rs 25,938 crore for five years as PLI for this sector.