Page 11 - Pli Scheme

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

Reliance Industries, JSW Neo Energy in fray for 10 Gwh ACC Battery PLI

Ministry of heavy industries has received seven bids for re-auction

Apple sets record: iPhone exports under PLI double to $10 bn in a year

Exports expected to cross 80% of its production

PLI incentives for FY24 remain at Rs 6,800 crore, far from govt estimates

Singh shared government's plans to make PLI schemes for textiles, bulk drugs, food products, and solar PV modules relatively attractive by adding more product lines and extending the timelines

Rs 6,800 cr disbursed to beneficiaries of PLI scheme in FY24: DPIIT Secy

Singh says that PLI schemes on textiles, bulk drugs, food products and solar PV modules are likely to be tweaked

PLI for mobiles has choked production growth: Zetwerk's Josh Foulger

It suggested that a PLI 2.0 for mobile phones should be modelled on the revamped PLI for IT hardware so that incentives are linked to value addition to avoid the failures of the first scheme

India has given over $1 bn to private firms under PLI scheme: Official

The 1.97-trillion-rupee ($24 billion) production-linked incentive scheme (PLI) is India's key industrial policy and covers 14 sectors ranging from electronic products to drones

PLI schemes attract over Rs 1.06 trn investment; pharma gets major chunk

Production-linked incentive (PLI) schemes for 14 sectors have attracted over Rs 1.06 lakh crore investments till December 2023 with pharma and solar modules accounting for nearly half of the total, according to government data. The response to the schemes was tepid in sectors like IT hardware, auto, and auto components, textiles, and ACC battery storage till December last year. The government in 2021 announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 lakh crore. According to the data, pharmaceuticals and drugs sector attracted Rs 25,813 crore till December last year, exceeding the expected investments of Rs 17,275 crore. The major beneficiary in this sector include Dr Reddy's Laboratories, Cipla, Glenmark Pharma, Biocon and Wockhardt Ltd. As regards the hig

Green energy firms get Supreme Court nod to use area around GIB habitat

The SC, in April 2021, said the priority habitat area of GIB will remain out of bounds for any construction.

We need to accelerate India's growth at 9-10% over next 3 decades: Kant

Discussing India's anticipated growth, Kant suggested transitioning people from agriculture to manufacturing-led smart cities to create better-quality jobs and foster economic development

Apple makes iPhones worth Rs 1 trillion in FY24; exceeds PLI target

It has also exceeded its target for the third year in which the eligibility for incentives were pegged at a maximum of Rs 75,000 crore for the three vendors

PLI schemes will get India get investments in chip manufacturing: US

Visiting US Assistant Secretary for Commerce calls for ecosystem that encourages startups in both countries to collaborate

Mobile phone manufacturing jumps 21 times to Rs 4.1 trn in 10 yrs: ICEA

Mobile phone manufacturing in value terms jumped 21-fold to Rs 4.1 lakh crore in India in the last 10 years as government policy measures like PLI played a critical role in attracting global players to boost local production, industry body ICEA said in a statement. India now produces 97 per cent of its total mobile phone demand locally and 30 per cent of the total production in financial year 2024 is meant for export, the India Cellular and Electronics Association said. "Mobile phone production surged from Rs 18,900 crore in 2014-15 to an estimated Rs 4,10,000 crore in FY'24, registering an increase of 2000 per cent. In 2014-15, mobile phone exports from India were a mere Rs 1,556 crore. The industry expects to end FY24 with an estimated export of Rs 1,20,000 crore. This would mean a 7500 per cent increase in exports over a decade," ICEA said. According to a note on manufacturing, in the field of smartphones, Apple and Samsung, have played a crucial role in boosting mobile phone ...