AUTO COMPONENTS AND LIGHT ENGINEERING
Auto Components and Light Engineering
Haryana manufactures 80% of excavators, 52% of cranes, 50% of cars and 60% of two wheelers in the country.
Key Sector Highlights
- Being a preferred destination for auto majors and auto-component manufacturers, the State is the largest automobile hub in the country.
- The state produces 2/3rd of passenger cars, 50% of tractors and 60% of motorcycles manufactured in the country.
- 3 SME auto component clusters.
- Of the total 250 large & medium OEMs, about 50 are located in Haryana.
- The International Centre for Automotive Technology (ICAT) has been setup at Manesar as apart of the National Automotive Testing & Research & Development (R&D) Infrastructure Project (NATRiP). It provides testing and R&D services to the industry.
- "Mahindra & Mahindra" "Hero Moto Corp" "Honda" and "Harley Davidson" Yamaha and many more have manufacturing plants in Gurgaon, Manesar and Faridabad.
Key Sector Incentives
|SGST Subsidy||Upto 100% of net SGST Reimbursement for upto 10 Years|
|Employment Generation Subsidy||Subsidy upto INR 48,000/- per year per employee for 7 years|
|Interest Subsidy||6% on term loan for upto 7 years upto INR 20 Lakh|
|Stamp Duty Refund||Upto 100% refund of stamp duty|
|EDC Charges||Upto 100% reimbursement of External Development Charges|
|Electricity Duty Exemption||100% Exemption from payment of Electricity duty for upto 20 years|
- Huge demand for electric vehicles that are suited for safe short distance urban travelling
- Global auto majors are rapidly ramping up the value of components they source from India
- Development of R&D Centres to support multi-national companies and training for smaller auto-ancillary companies
- Large manufacturing centers along the DMIC,AKIC and KMP industrial corridors
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