Samvardhana Motherson’s unit has secured PLI incentives for six years, with a planned ₹19 billion investment. The move strengthens its manufacturing base, supports innovation in advanced auto components, and aligns with India’s push for self-reliance. Analysts see this as a strategic boost to competitiveness and long-term growth.
Samvardhana Motherson Group, one of India’s leading auto component manufacturers, has announced that its unit has secured incentives under the Government of India’s Production-Linked Incentive (PLI) scheme. The approval is expected to provide a strong boost to the company’s expansion and innovation roadmap.
Key highlights of the announcement include:
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PLI incentives: The unit will receive incentives for a period of six years, supporting its long-term growth and competitiveness in the global auto components market.
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Investment commitment: Samvardhana Motherson has outlined a cumulative investment plan of ₹19 billion, aimed at scaling production, enhancing R&D capabilities, and strengthening its supply chain.
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Strategic impact: The incentives will enable the company to diversify its product portfolio, particularly in advanced automotive technologies, while also contributing to India’s vision of becoming a global manufacturing hub.
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Sectoral relevance: The move aligns with the government’s push to encourage domestic manufacturing and reduce import dependence, especially in high-value auto components.
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Growth outlook: Analysts believe the incentives and planned investments will enhance Motherson’s competitiveness, create employment opportunities, and position the company to capture emerging opportunities in electric and connected vehicles.
This development underscores Samvardhana Motherson’s commitment to innovation and expansion while reinforcing India’s industrial growth agenda.
Sources: Reuters, Business Standard, Moneycontrol