Page 19 - Pli Scheme

TMSEp488: Petrochemical PLI, farm export ban, markets, no-confidence motion

Why does the chemicals and petrochem sector need PLI? Do India's farm export bans hurt farmers? Will FPI flow into Indian equities slow from here on? What is a no-confidence motion? All answers here

PLI, tax benefits and more: Niti's advice to boost EV battery manufacturing

The Niti Aayog suggested that the Centre should give impetus to scaling up lithium-ion battery (LIB) recycling infrastructure to complement the extraction efforts of critical minerals

Govt extends deadline of IT hardware products PLI scheme till August 30

The budgetary outlay was more than doubled to Rs 17,000 crore compared to the previous scheme with a provision of Rs 7,325 crore

Paytm Chief Vijay Shekhar seeks PLI scheme for payment segment devices

Fintech company One97 Communications, which operates under the Paytm brand, wants the government to bring payment segment devices under the production-linked incentive scheme to boost local production, a top company official said on Monday. Paytm founder and CEO Vijay Shekhar Sharma said the company has started manufacturing soundbox devices in India even though local production attracts higher taxes compared to imported ones. While announcing the launch of two new models of payment soundboxes, Sharma said that India is a services-dominated country and there is a need to go towards manufacturing for job creation. Making software in India and importing devices from China to operate -- it is depriving the country of full advantage of the technology, he added. "Paytm soundboxes are completely made in India. We have done indigenisation of soundboxes. As we all know, we are under pressure from one new thing. When soundboxes come from overseas, duty is not levied on them but we are requi

Govt extends application deadline for IT hardware PLI 2.0 to August 30

The PLI scheme for IT hardware was notified via a government notification on May 29, 2023, with a total budget outlay of Rs 17,000 crore

Govt considering PLI for chemical, petrochemicals sector: FM Sitharaman

Wants India to become manufacturing hub of sector, she says

Semiconductor PLI to help India do in 10 yrs what China did in 30: IT min

India is on track to becoming a key player in the global semiconductor supply chain in the next decade with USD 10 billion of incentives and assistance provided to encourage local chip manufacturing, Union minister Rajeev Chandrasekhar said on Thursday. The production-linked incentive scheme last year attracted firms like Vedanta and Taiwan's Foxconn, who promised multi-billion dollar investment in setting up units to manufacture chips, which are used in products ranging from mobile phones to cars. Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said there is "not one person in the semiconductor global ecosystem" that does not see India as "a very credible, viable and fast charging destination for semiconductor investments and innovation". He also said that India is on track for the next 10 years in the semiconductor space with USD 10 billion (about Rs 81,993 crore), compared to China's three decades of progress. "We are on track to do in the next

Centre may begin PLI scheme for chemical, petroleum sector: FM Sitharaman

Finance Minister Nirmala Sitharaman states that India plans to be energy independent by 2047 and achieve net zero by 2070

Telecom PLI: Companies clock Rs 6,911 crore exports till May 2023

Companies under the Production Linked Incentive scheme for local manufacturing of telecom and networking products have done exports worth Rs 6,911 crore till May 2023, Parliament was informed on Wednesday. Production Linked Incentive scheme was launched on February 24, 2021, to promote domestic manufacturing of specified telecom and networking products, including 4G, 5G products and also design-led manufacturing in the country. "The companies under the scheme have made an export of Rs 6,911 crore up till 31.05.2023," Minister of State for Communications Devusinh Chauhan said in a written reply to the Lok Sabha. He said the number of 5G Base Transceiver Stations (BTSs) by various telecom service providers totalled 2.81 lakh as of July 7, 2023. Chauhan also shared the operator-wise data for the same, which showed Airtel had 53,223 5G BTSs, Reliance Jio (2.28 lakh) and Vodafone Idea (36).

Tata Motors applies for PLI benefits for Tiago electric car, says top exec

The Mumbai-headquartered firm has applied for all variants of the Tiago, which recently hit a sales milestone of 10,000 units

Industry players divided over capacity, penalty issues for PLI-AAC bids

"The ministry is committed to finalizing the bidding documents and proceeding with the rebidding process at the earliest," government officials said

Centre to recover Rs 469 cr from 7 electric 2W makers for non compliance

The Centre has sought Rs 469 crore from seven electric two-wheeler makers, including Hero Electric and Okinawa for claiming incentives while not complying with the Faster Adoption and Manufacturing of Electric Vehicles (FAME) II scheme norms, a government official said. The official said that in case of non-refund of the amount to the government, they will be de-registered from the scheme in the next 7-10 days and the government would not allow them to participate in the scheme. An investigation by the heavy industries ministry has revealed that these companies have availed fiscal incentives under the scheme by violating the norms. As per the rules of the scheme, incentives were allowed to make electric vehicles by using made in India components, but in the investigation it was found that these seven firms have used imported components. In our investigations, six companies have been found clean, but seven companies have violated the norms. So we are seeking Rs 469 crore. They will

PLI scheme incentive outgo could be less than Rs 40,000 crore by FY25

Govt estimates indicate not all 14 schemes may have fully taken off

Top Headlines: Welfare schemes in poll-bound states, Q1FY24 results, more

Business Standard brings you the top headlines at this hour

'No special policy for Tesla, can seek incentives under existing schemes'

The government so far is not looking to frame a separate policy for providing incentives to US-based electric car maker Tesla, and the company can apply to avail support measures under existing schemes like PLI for auto and advanced chemistry cells, a government official has said. The government has already rolled out the production-linked incentives schemes (PLI) for advanced chemistry cell (ACC) battery storage with an outlay of Rs 18,100 crore and Rs 26,058 crore PLI scheme for auto, auto-components and drone industries. "We have told Tesla that the policies, which are already there for all, they can also apply under that PLI. They are welcome. Generally, the policy will be the same for all. For a single company, the government may not like to make separate policies. So far, there is no plan to give special treatment," the official said. Representatives of Tesla's biggest supplier of batteries Panasonic have met "us and they have stated that they want to make batteries. We have .

Govt announces re-bidding under PLI for advanced chemistry cell production

The government on Thursday announced the re-bidding of production linked incentives for 20 GWh Advanced Chemistry Cell manufacturing -- India's Rs 18,100-crore programme to boost local battery cell production. The Ministry of Heavy Industries (MHI) will facilitate a stakeholder consultation with industry representatives on July 24, 2023 for their inputs and suggestions before the start of the re-bidding process of remaining 20 GWh capacity. "The ministry is committed to finalize the bidding documents and proceeding with the rebidding process at the earliest," an official statement said. With this auctioning process, the prospective applicants can submit their bids to set up domestic manufacturing facility for advanced chemistry cell, which will help them qualify for incentives under ACC PLI scheme. ACCs are the new generation of advanced storage technologies that can store electric energy either as electrochemical or as chemical energy and convert it back to electric energy as and

Govt to hold stakeholder talks for ACC battery PLI scheme on July 24

"The new bids proposal is in the final stages. Industry consultations will happen on July 24," said top government officials, adding, "The fresh tender is likely in the first half of next month"

Govt invites fresh applications under PLI scheme for textiles till Aug 31

The Centre on Tuesday said it has decided to re-open the portal for inviting fresh applications from interested companies under the Production Linked Incentive scheme for Textiles till August 31, 2023 in view of requests from industry stakeholders. The Centre launched the PLI scheme with an approved outlay of Rs 10,683 crore to promote the production of man-made fibre (MMF) apparel, MMF fabrics and products of technical textiles in the country to enable the textiles industry to achieve size and scale and to become competitive. "In view of the requests from the industry stakeholders, Ministry of Textiles has decided to re-open the PLI Portal till 31 August 2023 for inviting applications from interested companies under PLI scheme of Textiles for MMF Apparel, MMF Fabrics and products of Technical Textiles," an official statement said. All the terms and conditions notified earlier vide notifications and guidelines shall be applicable, it added.

DLI scheme 2.0: Centre considers picking up equity in chip design firms

Design companies need to show proof of concept of their design, as well as undertake testing of the design on products before it can identify buyers

Govt offers firms more time to seek IT hardware production incentives

The window to apply for the scheme - PLI 2.0 for IT Hardware - was previously supposed to close on July 15