Page 11 - Pli Scheme

Not just China, all PLI-led visas being fast-tracked: Piyush Goyal

On 100-day agenda, Goyal said the commerce department and DPIIT were still working on it and it was a "work in progress"

BJP's women's wing calls for probe into Foxconn India hiring practices

Foxconn hiring agents and HR sources cited family duties, pregnancy and higher absenteeism as reasons why Foxconn did not hire married women at the plant

India to make Ozempic-like drugs for diabetes, obesity under PLI by 2026

GLP-1RA works by activating GLP-1 receptors in the pancreas, which leads to enhanced insulin release and reduced glucagon release responses

Mulling PLI scheme for garments sector: Textiles minister Giriraj Singh

Textiles Minister Giriraj Singh on Tuesday said the government has approved over Rs 10,000 crore production linked incentive (PLI) scheme for textiles and now considering to extend it to the garments sector with a view to boosting domestic manufacturing and exports. Addressing the India International Garment Fair (IIGF) here, Singh said that huge opportunities are there to increase exports and the industry should target USD 50 billion worth of shipments in the coming years. In 2021, the government approved the PLI scheme for textiles with an approved outlay of Rs 10,683 crore over a five year period to promote production of MMF (man-made fibre) Apparel, MMF Fabrics and Products of Technical Textiles in the country to enable textiles industry to achieve size and scale and to become competitive. "We are considering to cover your (garments) sector also (under the scheme)," Singh said. He added that the market size of the Indian textiles industry is about USD 165 billion and "we have t

Budget Watch: From toys to footwear, new PLI schemes knocking on the door

Amid demands from industry bodies and govt departments, the upcoming Union Budget 2024 may see PLI schemes introduced for even more items

PLI scheme review committee raises concern over delays in payments

Calls for improved scrutiny to block instances of wrongful claims

Rising imports from China powering India's electronics production

Other countries such as Korea and Taiwan combined have seen their imports hit $4.5 billion in FY24 but they are still half of China and Hong Kong combined

Govt may overhaul PLI schemes: Quarterly incentive payments on the table

In a bid to cut the delay in processing incentive claims, the government is looking at switching to a quarterly disbursement of incentives

IT firms grapple with new anti-dumping duty on PCBS under PLI scheme

Mobile phone manufacturers are exempt from this duty, whereas more complex PCB designs are also spared

Govt plans telecom PLI scheme revamp, may focus on MSMEs and exports

Focus to remain on absorbing more export-oriented segments, involving greater number of MSMEs

Standard procedure

Streamlined visa rules for Chinese experts is realistic policy

OEMs, electronic component companies seek greater govt support

Demand combination of upfront capex backing and PLI

Modi 3.0 govt should push land, labour, agri reforms to boost growth: CII

Industry body CII on Thursday made a case for pushing reforms in sectors like land, labour, and agriculture by the Modi 3.0 government to accelerate economic growth, which is estimated to be around 8 per cent in the current financial year. CII President Sanjiv Puri said a lot of policy interventions in the past have put the economy on "a much stronger wicket". "The growth rate is poised to touch 8 per cent during the current year, marking the fourth consecutive year of above 7 per cent + growth. "The growth estimate hinges critically on addressing the unfinished reform agenda on priority, in addition to improvement in world trade prospects aiding our exports, twin engines of investment and consumption doing well and expectations of a normal monsoon among other factors," he added. Expressing optimism regarding the economy's performance, he said, "Very clearly, we are expecting all three sectors of the economy -- agricuture, services and industry -- to fire and do well next year." H

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