Page 10 - Pli Scheme

Govt steps help boost toy making, exports; more work needed: DPIIT secy

Government measures such as mandatory quality control orders and increasing customs duty have helped boost exports of toys from India, but there is a need to do much more for the sector, a top official said on Wednesday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh also indicated that they are diligently pursuing the proposal of extending fiscal incentives under the production-linked incentive scheme for the sector. He said that the industry is wondering about one proposed major policy intervention and "let me assure you that we are still pursuing that". In the interim Budget in February, the Commerce and Industry Ministry has recommended an outlay of Rs 3,489 crore for the Production Linked Incentive (PLI) scheme for toys to boost domestic manufacturing of the sector. As the scheme is yet to be cleared by the Union Cabinet, the interim Budget has made a token provision of Rs 1 lakh towards the scheme for 2024-25. The scheme a

Need to build on success of PLI schemes, recent FTAs: Piyush Goyal

Goyal was convening a review meeting with senior officers from the commerce and industry department

Value-add target in new PLI scheme for electronics manufacturing may double

Meity in talks with FinMin, NITI to finalise components scheme

iPhone exports from India hit $2 billion in April-May, shows data

Apple's vendors achieve 25% of FY25 target under PLI scheme

GX Group eyes 66% revenue growth to Rs 500 cr in 2 yrs, to double exports

Telecom gear maker GX Group expects its revenue to grow by 66 per cent to Rs 500 crore by financial year 2026, on account of growth in domestic business as well as exports, a top company official has said. The company makes Gigabit Passive Optical Network (GPON) gears that are required to run fibre-based broadband networks. GX Group also makes routers and switches as well as Internet of Things (IoT) devices in India. GX Group CEO Paritosh Prajapati told PTI that the company is looking to expand its manufacturing unit in India with an investment of Rs 100 crore in the current financial year. According to him, benefits from the telecom production-linked incentive (PLI) scheme are one of the key growth drivers for the company. "We have achieved a 40 per cent year-on-year (YoY) growth in consecutive years, supporting us to grow from a Rs 300 crore to a Rs 500 crore company within the next two financial years. "We are planning to build India as our Global hub, therefore, we are ...

Ola Cell Tech zeroes in on suppliers for batteries, to invest Rs 2,249 cr

As many as 15 suppliers have shown an interest in localising operations within the PLI timeline

Discrepancies in bids: Govt may give two weeks to ACC PLI applicants

The discrepancy in the bids has caused the government to miss its target of completing the bidding process within a month of declaring the technical bidders

Reforms, PLI: CEOs expect new govt to maintain policy continuity

The election results coincide with a slowdown in manufacturing activity for the second consecutive month in May

Govt bolsters ACC testing infra as PLI beneficiaries near production stage

Advanced Chemistry Cells (ACC) batteries undergo thorough testing to ensure safety, reliability, and performance

India needs wider range of semiconductor suppliers, says industry expert

Governments around the world are investing aggressively to build domestic supplies of semiconductors

CRISIL SME Tracker: Higher demand, PLI to propel electronics MSMEs in FY25

Various factors contributed to the growth, such as increasing penetration of internet and 5G services, rising consumer income, shorter replacement cycles, easier payment terms

Electronics firms seek Rs 35,000 crore PLI support to boost manufacturing

ICEA said the scheme would increase domestic value addition, especially in mobile phone manufacturing, from the current 18 per cent to 35-40 per cent, to support the growing demand

Govt needs to further expand PLI scheme to make India 'Global Drone Hub'

The government needs to expand the production-linked incentive (PLI) scheme and develop an ecosystem to realise the goal of making India a global drone hub, a report said. An incentive of Rs 120 crore spread over three financial years was provided for Indian manufacturers of drone and drone components under the PLI Scheme notified on September 30, 2021. As per the Ministry of Civil Aviation projections, the Indian drone manufacturing industry is expected to reach Rs 900 crore by 2025 from just Rs 60 crore in 2020-21, according to a study conducted by Nexgen Exhibitions. It also noted that the Indian drone market is expected to grow at 22.15 per cent CAGR (compounded annual growth rate) during the 2024-30 period. With innovation and expansion of its application portfolio, India has the potential of becoming the global drone hub by 2030, it stated. The study highlighted that the key to realising India's vision lies in boosting the domestic drone ecosystem. Other major factors are th

Govt needs to expand PLI scheme to make India 'global drone hub': Report

The government needs to expand the production-linked incentive (PLI) scheme and develop an ecosystem to realise the goal of making India a global drone hub, a report said on Tuesday. An incentive of Rs 120 crore spread over three financial years was provided for Indian manufacturers of drone and drone components under the PLI Scheme notified on September 30, 2021. As per the Ministry of Civil Aviation projections, the Indian drone manufacturing industry is expected to reach Rs 900 crore by 2025 from just Rs 60 crore in 2020-21, according to a study conducted by Nexgen Exhibitions. It also noted that the Indian drone market is expected to grow at 22.15 per cent CAGR (compounded annual growth rate) during the 2024-30 period. With innovation and expansion of its application portfolio, India has the potential of becoming the global drone hub by 2030, it stated. The study highlighted that the key to realising India's vision lies in boosting the domestic drone ecosystem. Other major fac

17 firms under IT hardware PLI to start production this year: IT secy

Majority of personal computer and server makers selected under the IT hardware production-linked incentive scheme are expected to start production this year, a senior government official said on Friday. "... About 17 out of 27 PLI companies will start production this year. Around 6-7 of them started production last year and two have plans to start production next year," Ministry of Electronics and IT (MeitY) Secretary S Krishnan said on the sidelines of the inauguration of a new high-end computing server manufacturing unit of Netweb Technologies here. The government in November, 2023 approved the application of 27 companies, including Dell, HP, Foxconn, Lenovo, Netweb Technologies, under new production-linked incentive (PLI) scheme for IT hardware. Among the big names that have been granted approval under the IT hardware scheme are Flextronics, VVDN, and Optiemus. Other applicants that have received the green signal include Padget Electronics, SOJO Manufacturing Services, Goodworth,

Transforming manufacturing

Dependence on PLI should be contained

PLI for electronics parts: Meity seeks info on production competitiveness

Meity has held numerous consultations with industry players and is hoping to launch the scheme as part of its 100-day agenda after the new government is formed after the general elections

Better PLI execution on cards if Modi returns to power, says report

The French banking group said the turnaround in the investment cycle that started from 2018-19 has further gained pace over the last two years after a Covid-led disruption in 2020 and 2021

Cloud over Surat amid election buzz

With quality control orders casting a shadow on the textile town, one hopes that the spirit of Surat will endure beyond elections

Sharp contrasts in two Industrial hubs: Noida flourishes, Ghaziabad falters

Noida, Ghaziabad goes to polls tomorrow but the sentiment in the industrial hubs show a stark contrast