The PLI scheme with an outlay of Rs 26,000 crore for five years commencing FY22-23, will incentivise investments in new age automotive technologies.
Girish Wagh, Executive Director, Tata Motors
We at Tata Motors are much encouraged with the new Production-Linked Incentive (PLI) scheme announced for the auto sector. This scheme is both progressive and transformational. It reiterates India’s holistic commitment to a sustainable future and accelerates the country’s progress towards green mobility. Several meaningful incentives have been offered across the entire value chain engaged in manufacturing of battery powered electric vehicles and hydrogen fuel cell, as well as their supporting infrastructure and exports.
Encouraging production of auto components using advanced technologies will boost localisation, domestic manufacturing and also attract foreign investments. This will help component manufacturers strive for scale, which will require setting up of new facilities and create more jobs. With auto being a strategically important sector of the economy, the benefits accrued overall will result in a multiplier effect. This announcement is a significant milestone in India’s journey towards ‘Atmanirbharta’ and will enable the country to join the top echelons of auto manufacturing nations.
Shailesh Chandra, President, Passenger Vehicle Business Unit, Tata Motors
As a homegrown leading automotive brand in India, we at Tata Motors are delighted to see the new Production-Linked Incentive (PLI) scheme announced today. The government has taken a holistic approach to make India 'Aatmanirbhar', especially in technology areas, that will be relevant and important in future.
The scheme promotes manufacturing, export of electric vehicles and those running on hydrogen fuel cells, their supporting infrastructure, as well as new technology auto parts requiring advanced production techniques. A progressive scheme which will help in accelerating transition to smart, environment-friendly, sustainable mobility solutions.
The automotive ecosystem will benefit tremendously as more jobs will be created, component manufacturers can plan their future roadmap better and achieve scale. It is indeed a very strong resolve shown by the government to fulfill the aspiration of India, by becoming a global manufacturing hub of green mobility.
(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)