PLI: Maruti, Hero, among 75 cos to get benefits
The government has selected 75 applicants — including Maruti Suzuki India, Bosch, Motherson Sumi, Minda, Tata Autocomp, Toyota, Bharat Forge and Hero MotoCorp — to receive support meant for component manufacturers under the Rs 25,938-crore production-linked incentive (PLI) scheme for the automobiles and auto parts industries.
The total investments pledged by the beneficiaries of the scheme — both original equipment manufacturers (OEMs) who were selected in February and the current component manufacturers — stood at Rs 74,850 crore (over five years), way above the official expectation of Rs 42,500 crore, the ministry of heavy industries said on Tuesday.
Two of the selected investors — Bharat Heavy Electricals and Ceat — are non-automotive (component) players, the ministry said. Some other selected companies are Pinnacle Mobility, Delphi-TVS Technologies, Hero Cycles, International Tractors, Lucas-TVS, Mitsubishi Electric Automotive India, Tata Cummins, Toyota Industries Engine India, Toyota Kirloskar Auto Parts, Lumax Auto Technologies, among others. (FE)