Industry Overview
The
auto control cable manufacturing business is an essential part of the
automobile component manufacturing sector. Auto control cables are critical for controlling various functions within vehicles, such as the
accelerator,
brake systems, and
clutch mechanisms. The rise in automobile production and the increased demand for
vehicle safety and
performance parts continue to drive the growth of this sector. The automotive industry’s expansion, coupled with advancements in
vehicle technology, has resulted in a growing demand for high-quality and durable auto control cables.
Scale and Profitability of Industry
The
auto control cable business can be started on a
small scale and easily scaled up as the demand grows. Profitability is significant as
auto parts are always in demand, especially with the increasing number of
automobiles on the road. Manufacturers can secure long-term contracts with vehicle manufacturers, distributors, and after-market suppliers.
Subsidy Opportunities
Eligible manufacturers can benefit from various government schemes like
PMEGP,
MSME, and the
Technology Upgradation Fund. These subsidies can help with purchasing specialized
machinery,
raw materials, and expanding the manufacturing process.
Eligibility Criteria
- Must comply with automotive safety standards.
- MSME registration and compliance with local business regulations.
Project Cost and Subsidy
- Project Cost: ₹5 Lakhs to ₹15 Lakhs.
- Subsidy: Up to 50% subsidy under PMEGP for eligible applicants.
To apply for the Food Processing Scheme, the following mandatory documents are required for new enterprises (Individuals/Firms) as outlined in the manual
1. PAN Card of concerned/all promoters.
2.Aadhaar Copy & Photo of all promoters/guarantors.
3. Address Proof: Any of the Officially Valid Documents (OVD) such as:
o Utility bill (not more than two months old) from any service provider (Electricity, telephone, post-paid mobile phone, piped gas, water bill).
o Property or Municipal tax paid receipt.
o Ration Card (Individual).
o Driving Licence
o Aadhaar Card.
o Voter ID Card.
4. Details of the site where the unit is to be established, including whether it is owned/rented/leased, along with proof (Lease/rent agreement should be for more than the loan repayment period).
5. Photocopy of Bank
6. Estimates and Quotation of all capital expenditure and machinery and equipment to be purchased. Statement/Bank Passbook for the last 6 months.
For existing enterprises with a turnover of less than 1 crore, similar documents are required, including PAN Card, Aadhaar, address proof, and site details.
If you need more specific information or additional documents, please let me know!
