PLI scheme to allow faster growth in Indian automobile sector

08 Jun 2022 CW Team

Sundram Fasteners Limited (SFL) told the media that the Performance Linked Incentive (PLI) Scheme in the automobile industry would enable it to move to higher value-added products.

According to a report for FY22, the company said PLI was expected to trigger faster growth and help India leapfrog over parts of the global supply chain and promote employment opportunities.

The electric vehicle (EV) segment witnessed significant growth this year. With the support from public investment, the PLI scheme was expected to promote capital expenditure by the private sector.

According to SFL, the coming year is poised for a hike in private sector investment with a robust financial system to support the economy’s revival.

The Covid-19 pandemic caused a worldwide surge in inflation, and SFL the trend could linger for years, with the increased steel prices to continue to impact margins in the first half of FY23.

The company said that the Indian automotive industry estimates to grow 10% during FY23, while tractors may expand in high single-digits.

The Indian economy was poised to grow at 7.9% in FY23 upon broad-basing on economic activity and monsoon.

The factors can be curtailed because of slowing global economies, the Russia-Ukraine war and higher commodity prices, especially crude oil. These factors might put the supply chain at a severe threat leading to a drop in volumes.

Image Source

Also read: India aims to be 3rd largest automotive industry globally by 2030

Infrastructure Transport

15 Oct 2025

BMC Gets CRZ Nod For Rs 40 Million Gorai Bridge Rebuild

The Brihanmumbai Municipal Corporation (BMC) has secured Coastal Regulation Zone (CRZ) clearance for the reconstruction of the Poisar River bridge in Gorai, located in Mumbai’s western suburbs. However, the proposed demolition of the existing 100-metre bridge has sparked opposition from local residents, who claim it serves as the only direct access route between the Lower and Upper Koliwada areas. The three-decade-old bridge, situated within the CRZ buffer zone, was recently declared structurally unsafe following a civic audit. The BMC has sanctioned its reconstruction at an estimated cost ..

NHAI Completes Rs 15.9 Billion Four-Lane Stretch On ECR

The National Highways Authority of India (NHAI) has completed the four-laning of the 38 km Puducherry–Poondiyankuppam stretch, ending near Cuddalore, in a development that will cut travel time by up to two hours, according to a report by The New Indian Express. The upgraded section, built at a cost of Rs 15.9 billion under the Bharatmala Pariyojana Phase I, marks a major milestone in the ongoing East Coast Road (ECR) widening programme. The project promises a smoother, faster drive for motorists travelling towards Cuddalore, Chidambaram, Sirkazhi, and Nagapattinam. With this completion, 22..

Encroachments Delay Rs 1 Billion Ghatkopar Bridge Project

The construction of a new cable-stayed rail overbridge at Ghatkopar and the widening of the Andheri–Ghatkopar Link Road (AGLR) have been delayed due to the presence of nearly 250 encroached structures on both sides of the road. In response, Municipal Commissioner Bhushan Gagrani has directed officials to carry out a structural audit of the existing bridge over the railway line and enforce temporary restrictions on heavy vehicles to ensure public safety. The bridge, which starts at the Golibar Road junction near LBS Marg and extends up to the Eastern Express Highway (EEH), serves as a critic..