Page 20 - Pli Scheme

India's renewable energy installations to reach 45 GW in next 2 yrs: Report

Annual renewable energy (RE) installations in FY24 are to be around 20 GW, led by the solar sub-segment, CareEdge Ratings said on Thursday. This is based on the healthy pipeline of over 55 GW assets under development. The subsequent year is expected to see installations of 25 plus GW, leading to a cumulative increase of 45 GW over the next two fiscal, the rating agency said in a sectoral note. The solar sub-segment is expected to lead the way in terms of installations, followed by wind and hybrid capacity. The commercial and industrial segment is also expected to contribute significantly to future capacity additions. These projections are based on the government's commitment to ensuring the bidding of approximately 50 GW of annual capacity for the next five years to facilitate the achievement of the target of 500 GW capacity through non-fossil fuel sources by 2030. This will require annual RE installations to exceed 40 plus GW. The trajectory for FY24 includes 10 GW of wind capaci

Memory chip giant SK Hynix considering setting up packaging plant in India

Samsung and SK Hynix are key players in the global sales of dynamic random-access memory (RAM) chips

EVs on a brake: Manufacturers, govt are arguing over new PLI schemes

The key, however, lies in the future of FAME II subsidy. If it is not extended EV prices will soar and slow the government's own market adoption and emission targets

Toy industry seeks resolution of GST anomaly, PLI scheme to boost growth

Toy manufacturers have urged the government to resolve a GST (Goods and Services Tax) anomaly and immediate roll-out of the production linked incentive scheme to boost the growth of the sector. These issues were raised by the industry during a meeting called by the Department for Promotion of Industry and Internal Trade (DPIIT) on July 8 here. The meeting was attended by representatives of global and domestic toy manufacturers, retailers, associations, and government officials to discuss the opportunities in the domestic toy sector. It was chaired by DPIIT Secretary Rajesh Kumar Singh. Toy Association of India (TAI) Senior Vice-President and Little Genius Toys CEO Naresh Gautam, who attended the meeting, said that besides PLI and GST, the industry has urged for resumption of Credit Linked Capital Subsidy Scheme (CLCSS). "PLI is the need of the hour as it would help in tapping huge business opportunities," Gautam, who has been making wooden toys for the last 32 years, said. He adde

Rationalise tariff on mobile parts to encourage other countries: Industry

Vietnam's weighted average tariff, taking into consideration its sprawling FTAs with countries, is a mere 1.1 per cent against India's 7 per cent

India key to expansion, focus on localisation here: US-based First Solar

PLI scheme winner says working with local players to develop supply chain of parts in India

The PLI scheme is beginning to make India a manufacturing powerhouse

However, the industry must remember that the PLI scheme is for five years only, and it must use these five years to make Indian manufacturing globally competitive

Attracted by govt support, Alcatel-Lucent hunts partners to Make-in-India

The company said that they not only want to make products for India but also plan to manufacture to export

Centre unlikely to launch PLI schemes for new sectors this year: Report

The proposed changes to the PLI schemes will allow new players to benefit from the incentives, sources said

Commerce ministry asks departments to consult with PLI scheme beneficiaries

The commerce and industry ministry has suggested departments, which are implementing their sector-specific production-linked incentive schemes, hold consultations with PLI beneficiary companies to understand their issues, government officials said. The suggestion was made in a workshop on the production-linked incentive (PLI) scheme called by the ministry on June 27. The meeting assumed significance as the government disbursed only Rs 2,900 crore till March 2023 out of Rs 3,400 crore claims received under the scheme. The scheme was announced in 2021 for 14 sectors, such as telecommunication, white goods, textiles and pharma with an outlay of Rs 1.97 lakh crore. The departments were also asked to ensure that PLI beneficiaries complete their investments and meet production targets. "It was suggested to the line ministries now to call the PLI beneficiary companies for consultations with them only and if they flag any issue, it could be conveyed to the commerce and industry ministry so

Ericsson, Nokia not ready to supply 5G equipment to Vi on credit: Report

Recently, Ericsson provided the telco with 2G radios, but only after it made the entire payment

Govt seeks industry feedback on challenges in PLI to enhance effectiveness

Goyal urged officials to hold regular consultation and roundtables with PLI beneficiaries

In a first: Mahindra & Mahindra receives PLI eligibility certificate

Tata Motors files application for flagship Tiago EV

Govt seeks industry feedback on PLI scheme to enhance effectiveness

The government has sought feedback from the industry on the production linked incentive (PLI) scheme with a view to enhancing its effectiveness, according to an official statement issued on Wednesday. The commerce and industry ministry, which coordinates the scheme, also urged PLI beneficiaries to take up any procedural challenges/ issues with the respective implementing ministry or department so that positive reforms can be brought about and the scheme can be made more efficient and effective. Issues pertaining to the scheme were discussed in a workshop called by the Commerce and Industry Ministry on June 27 here. Commerce and Industry Minister Piyush Goyal stated that the government is committed to fostering a conducive business environment and accelerating growth in PLI sectors. "The minister encouraged industry's feedback and collaborative engagement to shape the policies, procedures and effectiveness of the PLI scheme," the ministry said in a statement. The government announc

Top headlines: Adani cos under Sebi lens, TCS on foreign remittances

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Govt prepares new multibillion-dollar battery subsidy scheme: Report

The draft proposal for a production-linked incentive subsidy scheme would offer Rs 21,600 crore ($2.63 billion) from this year through to 2030 for companies

Centre assures PLI scheme beneficiaries to resolve any issues they face

The government on Tuesday assured beneficiaries of the Production Linked Incentive scheme to resolve their issues, if any so that they can avail the PLI benefits on time, an official said. Certain technical issues were flagged by industry players during a workshop held by the commerce and industry ministry on the PLI schemes. The objective of the workshop was to take stock of the progress and success stories of each scheme, which was rolled out for as many as 14 sectors, the official said. Besides, the ministry also sought feedback and suggestions from the beneficiaries and views from industry associations. The meeting was chaired by Commerce and Industry Minister Piyush Goyal. The government announced the PLI (production-linked incentive) scheme in 2021 for as many as 14 sectors, such as telecommunication, white goods, textiles and pharma with an outlay of Rs 1.97 lakh crore. The government has disbursed only Rs 2,900 crore till March 2023, out of Rs 3,400 crore claims received.

Centre to renew consultation with firms shortlisted under PLI scheme

DPIIT asked to nudge ministries to hold talks with beneficiaries

Amid tepid utilisation of funds, govt to review PLI scheme on Tuesday

Progress has been slow in the case of the remaining six sectors - steel, textiles, battery, white goods, solar PV and automobiles

India appears to be 'silver lining' amid global challenges: HUL Chairman

India appears to be the silver lining amid global headwinds and is poised to leapfrog into the future, but the country must address challenges like employment and agriculture productivity, said HUL Chairman Nitin Paranjpe. Addressing the AGM of the company on Monday, Paranjpe said India has been the fastest-growing economy in the last decade and is touted to become the world's third-largest economy by 2027, surpassing Japan and Germany. It is emerging steadily from the shadows of being a poor nation, and taking 'centre stage'. "The country's ambition of becoming a high-middle income country by 2047, when the nation celebrates 100 years of independence, is a definite possibility," Paranjpe said in his speech titled Transforming to Win in the New India. This would be led by factors like favourable demographics, rising consumption, enviable digital public infrastructure, investments and a culture of innovation and enterprise. According to HUL Chairman, a growing young population can