In order to capture crucial information on domestic value addition (DVA) from the Postal Life Insurance (PLI) applicant's enterprise resource planning system to the PLI car site, the Ministry of Heavy Industries has created an automated online data transfer. The PLI-Auto plan offers financial incentives to promote domestic production of Advanced Automotive Technology (AAT) goods and draw capital to the value chain of automotive manufacture. With a financial commitment of Rs 25,938 crore, the government has started the Automobile and Auto Component Industry in India (PLI-Auto) scheme.
Products that have a minimum of 50% domestic value addition and have been pre-approved are eligible for rewards under the programme. An official statement claims that the automated mechanism will allow online domestic value-added data transfer from the Enterprise Resource Planning (ERP) system of the PLI applicant to the PLI Auto Portal. Every accepted PLI scheme applicant has its own ERP system.
The IT-enabled solution has been developed to allow secure data transfer from the applicant's current ERP system to MHI's PLI Auto site, according to the release. Application Programming Interface (API) integration with the applicant's ERP system will make this scheme more automatic and paperless. The applicants would have been obliged to submit numerous claims under normal circumstances, it continued. The method, according to the ministry, will facilitate quicker processing of claims while at the same time lessening the applicants' compliance burden.
Leading Original Equipment Manufacturers (OEMs) and vehicle component manufacturing businesses were consulted during the development of the system. Mahendra Nath Pandey, the heavy industries minister, said that these procedures are crucial steps in enabling openness, convenience of doing business, anonymity, self-certification-based assessment, and paperless delivery. In contrast to the initial estimate of an investment of Rs 42,500 crore over a five-year period, the initiative has attracted a proposed investment of Rs 67,690 crore. It is anticipated to contribute to an increase in AAT product production of approximately Rs 2.3 lakh crore.