Page 20 - Pli Scheme

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

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