Industry Overview
Lubricant oil is essential for the smooth operation of
engines and
machinery, ensuring optimal performance and extending the life of components. As industrialization and
vehicle production increase globally, the demand for
lubricant oils is rising. The industry is constantly innovating with the development of more
environmentally friendly and
high-performance oils to meet consumer and regulatory demands. The rise in demand for
electric vehicles (EVs) has also introduced new types of lubricants tailored to these vehicles.
Scale and Profitability of Industry
Lubricant oil manufacturing offers opportunities for
large-scale operations, as the demand is driven by
automotive,
industrial machinery, and
construction sectors. Profit margins can be high if manufacturers focus on high-quality oils and
specialized lubricants for different vehicle types.
Subsidy Opportunities
Manufacturers can benefit from
PMEGP,
MSME, and
Make in India for setting up manufacturing plants, machinery purchases, and marketing efforts for new product launches.
Eligibility Criteria
- Compliance with oil quality and safety standards.
- MSME registration for small manufacturers.
- ISO certification for international market reach.
Project Cost and Subsidy
- Project Cost: ₹15 Lakhs to ₹30 Lakhs.
- Subsidy: Up to 50% subsidy under PMEGP and other government schemes for eligible businesses.
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!
