Page 14 - Pli Scheme

Centre reviews progress of PLI schemes in all 14 sectors: Govt official

The government on Friday reviewed the progress of the production-linked incentive (PLI) schemes for all the 14 sectors, an official said. The meeting assumes significance as the government has disbursed Rs 2,900 crore till March 2023 under the scheme. The empowered committee in PLI has also approved Rs 1,000 crore disbursal to beneficiary firms of the electronics sector. The scheme was announced in 2021 for 14 sectors like 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. Senior officers from different ministries, including the commerce and industry ministry and heavy industries ministry, participated in the review, the official said. The purpose of the schemes is to attract investments in key sectors and cutting-edge technology; ensure efficiency and bring economies of size and scale in

Flying high: Phone exports near FY23's tally in just 9 months of FY24

iPhones have contributed $7 bn to India's total $10.5 bn exports

Outgrowing Apple

India must approach its industrial policy with a lighter and practical, reform-oriented touch instead of trying to deal with individual companies like Apple or Tesla

Bharat Tex Expo next month to attract over 3,500 exhibitors: Textiles secy

Over 3,500 exhibitors and more than 3,000 overseas buyers are expected to participate in Bharat Tex 2024 -- a global textile expo to be held here from February 26-29, a senior official said on Tuesday. The expo is expected to bring together stakeholders across the textile value chain, including government and industry representatives, Secretary in the Ministry of Textiles Rachna Shah said. The mega event will provide a unique opportunity to India to showcase itself as a global sourcing and investment destination. "We expect participation of over 3,500 exhibitors from India and abroad, more than 3,000 overseas buyers and 40,000 business visitors at the Bharat Tex Expo, along with participation of policymakers, government representatives from India and abroad, the industry and buyers," she said. Elaborating on the various initiatives of the Ministry of Textiles, Shah said a "Centre of Sustainable Fashion Technology" is proposed to be established to promote capacity building and resea

Govt to undertake third party assessment of white goods PLI: DPIIT Secy

The assessment will be to see whether the stated objective of the scheme-that intends to make India a manufacturing powerhouse-has been achieved

PLI schemes for new sectors not being considered at present: DPIIT Secy

The government will focus on the existing PLI schemes for 14 sectors and for the time being is not considering to include new sectors like toys in the programme, a top official said on Thursday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said the Production-Linked Incentive (PLI) scheme for 14 sectors such as pharma, white goods, and electronics are doing good. "Currently we are focused on getting these 14 PLIs. All are up and running in a good way. So for the time being, the new PLIs are not being considered and we will focus on ensuring that these existing schemes get implemented well and thereafter we will see," Singh told reporters here. The government has earlier planned to extend the scheme for new sectors such as leather, toys, and new-age e-bikes to utilise the remaining amount earmarked for the 14 sectors. The PLI scheme was announced in 2021 for 14 sectors such as telecommunication, white goods, textiles, manufactur

Govt extends PLI scheme for auto sector by a year with 'partial amendments'

The Ministry of Heavy Industries on Monday announced the extension of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with "partial amendments". This decision has been made after receiving the approval of the Empowered Group of Secretaries (EGoS). "In pursuance of the approval of EGoS, the Ministry of Heavy Industries has made partial amendments in the Production Linked Incentive (PLI) Scheme for the Automobile and Auto Component Industry and Guidelines of the Scheme. These amendments, effective from the date of publication in the Official Gazette, aim to provide clarity and flexibility to the scheme," an official statement said. Under the amended scheme, the incentive will be applicable for a total of five consecutive financial years, starting from the financial year 2023-24. The disbursement of the incentive will take place in the following financial year 2024-25. The scheme also specifies that an approved applicant will be eligible for

30 cos taking advantage of PLI scheme to make millet-based products: Govt

Around 30 companies, including 22 MSMEs, are taking advantage of the Production-Linked Incentive (PLI) scheme for manufacturing millet-based products, according to the Ministry of Food Processing Industries. The PLI for Millet Based Products (PLISMB) was carved out of the savings of the main PLI Scheme for the Food Processing Industries (PLIFPI) to encourage the use of millets in Ready to Cook/Ready to Eat (RTC/RTE). According to the ministry, around 30 companies, including 22 MSMEs, are involved in the promotion of millet-based products under the PLISMBP. The PLISMBP scheme -- approved in August with an outlay of Rs 1,000 crore arising out of the savings from other segments -- envisages the use of a minimum of 15 per cent millet content in the approved food products, it said in a statement. Otherwise, under the PLISFPI, 176 proposals under different categories have been approved so far and about Rs 584.30 crore incentive has been released, it added.

Storage: New challenge for renewables

Implementation of storage for India's green transition clearly emerges as the new challenge for the renewables vision

Revitalising FDI

India will need to increase its appeal

Electronics exports propelled by mobile show sharpest surge in top 10 club

Electronics exports up from sixth to fifth position this financial year

PLI schemes attracted over Rs 95,000 cr investment till Sep 2023: Centre

The production-linked incentive (PLI) schemes for 14 sectors have attracted over Rs 95,000 crore in investment till September this year, an official statement said on Tuesday. According to the Commerce and Industry Ministry, as many as 746 applications have been approved till November 2023 under these schemes. In the Union Budget 2021-22, the government announced an outlay of Rs 1.97 lakh crore for the schemes. The sectors included electronics, telecommunication, pharma, white goods (AC and LED light components), and textiles. The aim is to enhance India's manufacturing capabilities and exports. "746 applications have been approved till November 2023. PLI units are established in more than 150 districts (24 states). Over Rs 95,000 crore of investment reported till September, which has led to production/sales of Rs 7.80 lakh crore and employment generation (direct & indirect) of over 6.4 lakh," the ministry said. It added that incentives worth around Rs 2,900 crore have been ...

Shrinking market share, govt pressure trouble Chinese smartphone makers

Chinese smartphone brands are fast losing market share in Europe, North America, and Japan. On the other hand, Apple and Samsung have grown as people increasingly prefer premium devices

Govt cleared 746 PLI applications till November for different sectors

As many as 746 applications have been approved till November 2023 under the Production Linked Incentive (PLI) schemes for 14 sectors such as pharma, white goods, and electronics, an official statement said on Tuesday. The schemes for 14 sectors were announced with an outlay of Rs 1.97 lakh crore to enhance India's manufacturing capabilities and exports. The commerce and industry ministry said that beneficiary companies have set up units in more than 150 districts (24 states) and over Rs 95,000 crore of investment has been reported till September, which has led to production/sales of Rs 7.80 lakh crore and employment generation of over 6.4 lakh. "746 applications have been approved till November 2023... Incentives worth around Rs 2,900 crores have been disbursed in 2022-23. There has been a value addition of 20 per cent in mobile manufacturing within a period of 3 years," the statement said. It added that of the USD 101 billion worth of total electronics production in 2022-23, ...

Smartphone maker Vivo India reports net profit of Rs 211 crore in FY23

Vivo India has reported profits at a time when the overall smartphone industry has seen a 10% decline in shipments

Here's how govt's PLI scheme is fuelling Dixon Technologies' global dreams

The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology hardware brand in India

Smaller towns turn big market for Apple, account for 60% of iPhone sales

Earlier, tier-1 cities accounted for 65-70% of Apple's sales, however, this has changed in the last few years

Centre gets bids for green hydrogen, electrolyser production incentives

In July, India invited pilot bids under its $2 billion programme to incentivise production of green hydrogen and manufacturing of electrolysers

Motorola working to double its exports with focus on North American market

Motorola exported more than 1 million units of smartphones from India in 2022. These were manufactured locally by the contract manufacturer, Dixon Technologies

How will Apple, the poster boy of Make in India, deal with end of PLI?

To get more scale than envisaged and nearly double the value addition, Apple's vendors will need to replicate the model of Chinese mega-factories in India