HomeBUSINESSAutomated online data transfer launched for capturing critical data of auto PLI...

Automated online data transfer launched for capturing critical data of auto PLI investors

[ad_1]

NEW DELHI : The union ministry of heavy industries has launched ‘Automated Online Data Transfer’ for capturing critical data related to Domestic Value Addition (DVA) from the approved applicants of the production linked incentive (PLI) scheme for automobile and auto component makers, with an aim to bring in ease of doing business.

Under the newly launched system, the critical data would be transferred from the Enterprise Resource Planning (ERP) system to PLI auto portal of the ministry. All approved applicants of the PLI Scheme have their own ERP system. ERP is a type of software that organizations use to manage business activities. The IT enabled system has been devised to enable smooth transfer of data from applicant’s existing ERP system to PLI auto portal of MHI in safe environment, said a statement from the ministry.

The Application Programming Interface (API) will get embedded with ERP system of the applicant and will enable automaticity and paperless processing in this scheme.

 “In the normal circumstance, the applicants would have been required to file voluminous claims. This facility eliminates that voluminous paper work by bringing in automation. Thus, this IT enabled system will reduce compliance burden on the part of the applicants on the one hand and it will enable faster processing of claim on the other hand,” it said.

This system has been devised after stakeholder consultations with leading original equipment manufacturers (OEM) and auto component manufacturing companies.

Union heavy industries minister Mahendra Nath Pandey said that these processes are important steps in enabling transparency, ease of doing business, faceless and self-certification-based assessment and paperless delivery.

Government has approved the PLI scheme for automobile and auto component industry for enhancing India’s manufacturing capabilities for advanced automotive products (AAT) with a budgetary outlay of 25,938 crore. The scheme has attracted proposed investment of 67,690 crore against the target estimate of investment 42,500 crore for a five-year.

The PLI investors would be maintain the detailed domestic value addition (DVA) calculation for all their eligible products in their own Enterprise Resource Planning (ERP) system. The ERP system shall maintain the DVA calculation for each batch, product, model and variant with details of component-wise values, component-wise DVA and final DVA at AAT (Advanced Automotive Products (AAT) product level.

Applicants’ ERP shall push the product-wise DVA to PLI Auto portal on quarterly basis through Application Programming Interface (API).

Catch all the Corporate news and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.

More
Less

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.

[ad_2]

Source link

RELATED ARTICLES

Most Popular

Recent Comments