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 Honda, Haley Davidson India, Yamaha and many more have manufacturing plants in Gurgaon, Manesar and Faridabad
Key Sector Incentives
| INCENTIVE | DETAILS |
|---|---|
| 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 |
Investment Opportunities
- 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
Foreign Cooperation Department is responsible for the Haryana’s diplomacy, forging bilateral and multilateral ties at the international level, and assisting Haryanvi diaspora spread across the globe. The department has the mandate to promote Haryana as the most preferred destination for foreign investments in India, to advance Haryanvi culture, and to increase the welfare of the Haryanvi diaspora by furthering their interests through diplomacy, advocacy, and assistance. The Department strives to enhance the socio-economic welfare of the State and its people by establishing the State as a hub for industries, education, skill development, and tourism.
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