Top headlines: PLI incentives to 8 sectors, tweak in SEZ rules, and more

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Govt pays PLI incentives worth Rs 2,874 crore towards 8 sectors in FY23

Claims under the production-linked incentive (PLI) scheme stood at Rs 3,420 crore in 2022-23 (FY23), of which the government paid incentives of Rs 2,874 crore to PLI beneficiaries until March across eight sectors — mobile manufacturing, information technology hardware, pharmaceutical (pharma), bulk drug, medical device, telecommunications (telecom), food processing, and drone. Read More

Avaada Ventures secures $1.07 billion funding for expansion plans

Green energy and fuels company Avaada Ventures has secured funding worth $1.07 billion, led by marquee private equity player Brookfield, which will make an equity investment of $1 billion. The sand-to-molecule company plans to use the funds for new projects in green hydrogen, green ammonia, and solar equipment manufacturing. Read More
 

Commerce department likely to tweak some SEZ rules in DESH Bill

With the fate of the Development Enterprise and Services Hub (DESH) Bill in limbo, the commerce department is working towards tweaking some rules under the existing special economic zone (SEZ) law to allow use of unutilised spaces in IT/ITES for non-SEZ purposes. Read More 
 

Electronics manufacturing gets a reality check; only $225 bn value by FY26

The government’s ambitious vision document that aims at achieving electronics manufacturing with a value of $300 billion by FY26 (including exports of $105-130 billion) could end up far lower than the target, according to a reality check this month. Read More
 

Frequency of heatwaves rising in India due to global warming: IMD paper

The frequency of heat waves and their duration over the main heat-prone areas of the country rose by around 2.5 days in the last 30 years due to global warming, a latest paper by the India Meteorological Department (IMD) showed. Read More