New Delhi (Agency): In a move to review and bolster India’s automotive sector, the Ministry of Heavy Industries (MHI) is hosting a conference tomorrow, August 29, 2023. The conference, titled “Review of PLI-Auto Scheme – Excellence through Aatmanirbharta,” will take place at the India Habitat Centre and will be chaired by Dr. Mahendra Nath Pandey, Union Minister for Heavy Industries.
The event aspires to gather various stakeholders, such as PLI-Auto applicants, Production-Linked Incentive Agencies (PMA), and test agencies, to review the scheme’s performance. The participants will share their experiences and address concerns and challenges in the implementation of the PLI-Auto scheme. Special attention will be given to understanding the opportunities that this initiative brings.
The PLI scheme for Automobile and Auto Components is part of several flagship programs launched by MHI. With an outlay of ₹25,938 crore, this scheme aims to stimulate the growth of the automotive industry. According to MHI, the Indian automotive industry is projected to become the third-largest in the world by 2030, owing to the cumulative effect of these schemes.
The Ministry views PLI-Auto applicants as crucial stakeholders and commits to supporting the industry’s growth to realize the vision of “Excellence through Aatmanirbharta,” as put forth by the Prime Minister. MHI emphasizes that the goal of deep localization and development of Advanced Automotive Technology (AAT) products within India cannot be achieved without the active involvement and growth of the automotive sector.
The Central government takes moral responsibility for strengthening this key industry, offering both financial support and a conducive environment for fostering innovation and technology. The conference serves as a platform for dialogue and problem-solving, aimed at aligning the stakeholders with the scheme’s objectives and maximizing its impact.
By focusing on stakeholder involvement, discussing challenges, and pinpointing opportunities, the conference aims to offer a comprehensive review of the PLI-Auto scheme. The Ministry’s commitment to the scheme reflects a broader governmental strategy to promote cleaner mobility, technological innovation, and a robust ecosystem for the automotive industry. Through events like this conference, MHI hopes to make significant strides toward a more sustainable and self-reliant India.