Driven by the surge in rural consumption, India sold more two-wheelers than China in 2023, as entry-level manufacturers in the country expanded their reach to the rural areas of the country
New Delhi: Driven by the surge in rural consumption, India sold more two-wheelers than China in 2023, as entry-level manufacturers in the country expanded their reach to the rural areas of the country.
Driven by the surge in rural consumption, India sold more two-wheelers than China in 2023, as entry-level manufacturers in the country expanded their reach to the rural areas of the country.
The production-linked incentive (PLI) scheme for automobile and auto components was approved by the government on September 15, 2021 with a budgetary outlay of Rs. 25,938 crore to boost domestic manufacturing of advanced automotive technology (AAT) products and attract investments in the automotive manufacturing value chain.
As on November 26, five two-wheeler original equipment manufacturers (OEMs) have been approved under the scheme, informed Union Minister for Heavy Industries and Steel, H.D. Kumaraswamy, in a written reply in the Lok Sabha.
AAT two-wheelers are also eligible for incentives under the scheme ranging from 13 per cent to 18 per cent on determined sales value.
The PLI scheme for manufacturing advanced chemistry cells (ACC) was approved on May 12, 2021 with a budgetary outlay of Rs 18,100 crore. The scheme envisages to establish a cumulative ACC battery manufacturing capacity of 50 GWh.
Under the scheme, approved applicants would be allowed to import completely built-in units at a reduced customs duty of 15 per cent for 5 years subject to setting up of electric passenger cars manufacturing facilities in the country.
As on November 28, there are 82 approved applicants under PLI-Auto scheme having multiple manufacturing facilities and engineering research and design units across India, said Kumaraswamy.
IANS