Page 20 - Pli Scheme

PLI scheme incentive disbursement likely at Rs 13,000 crore in FY24

Separately, Singh noted that the Centre is working to modify the scheme for sectors that have not performed as expected

Ministry set to implement two production-linked incentive schemes

The Ministry of Heavy Industries (MHI) is set to implement PLI scheme for automobile and auto components (PLI Auto), and PLI scheme for advanced chemistry cell (ACC) (PLI ACC)

Disbursement under PLI scheme to hit Rs 13k crore this year: DPIIT secy

The government is expected to disburse about Rs 13,000 crore to eligible firms seeking benefits under the production linked incentive (PLI) schemes, even though an exercise is going on to tweak the scheme for those sectors which have not yet picked up well, a top official said on Friday. Secretary in the Department for promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that from the current year onwards, the disbursal number will be significantly larger. The disbursals "I think will go to about Rs 13,000 crore this year", he told reporters here. The government disbursed only Rs 2,900 crore till March 2023 out of Rs 3,400 crore claims received under the scheme so far. The scheme was announced in 2021 for 14 sectors such as telecommunications, 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 ...

Govt expects PLI payouts to rise Rs 13,000 cr this year: DPIIT official

Under the $24 billion scheme, the federal government pays local manufacturers when targets such as sales are met, aiming to boost investment in manufacturing. Targets differ from sector to sector

Lenovo mulls scaling up local production, discussion on with govt on PLI

IT hardware maker Lenovo plans to strengthen local manufacturing and is in discussion with the government to seek clarity on the PLI scheme and recent import restrictions, a senior company official said on Tuesday. Lenovo India Commercial Business Executive Director Ajay Sehgal said that the company has been manufacturing in India for about the last two decades and now even exporting from India. "We need to understand more in detail about the new regulations. After understanding that part we will be able to comment better on how we can add more value in the manufacturing in India. Manufacturing in India is not new for us. If it is only a capacity enhancement, definitely, we know there is a merit to increase that part and we are moving in that direction," Sehgal said. He was responding to a question on Lenovo's view on Rs 17,000 crore production-linked incentive scheme for manufacturing IT hardware in the country. Lenovo leads the global PC market with a 24 per cent market ...

Construction, equipment manufacturers seek PLI scheme for industry

Construction and equipment (CE) manufacturers have urged the government for a production linked incentive (PLI) scheme for the sector. The introduction of the PLI scheme will provide a level-playing field for the players of the industry, Dimitrov Krishnan, President of industry body ICEMA, said. Indian Construction Equipment Manufacturers' Association (ICEMA) engages with stakeholders and the government to identify challenges in the sector and works on solutions. In 2021, the government had announced the scheme for 14 sectors such as 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. "The move (PLI Scheme) has given a push to these industries. Our industry requests the government for a PLI scheme for our industry. We play a critical role in capital intensive industries like setting up steel

Proposals formulated for 2nd edition of PLI, will take time: Steel secy

Steel Secretary Nagendra Nath Sinha on Thursday said the ministry has formulated proposals in consultation with the industry for second edition of the PLI scheme but its implementation would take "some time" as a few processes, including Cabinet nod, are pending. The Union Cabinet in July 2021 approved the Production Linked Incentive (PLI) scheme to boost the production of specialty steel in India. "We have formulated proposals for PLI 2 and need approval of the government for this. It may take some time. The proposal we have formulated has been done in consultation with all players of the industry and if we take it up, we expect a good response," Sinha said on the sidelines of an industry event in Greater Noida. "I cannot commit any time frame for this right now because a lot of processes, like the proposal being sent to powered group of secretaries and then to the Cabinet for approval, are due and it will take some time," the Steel Secretary told reporters. He was in Greater Noid

Centre mulls minor tweaking in PLI scheme, aims to boost manufacturing

Discussions underway regarding the potential need for slight alterations to the production-linked incentive scheme to improve its execution

Cabinet secretary reviews progress of PLI scheme in certain sectors

Cabinet secretary Rajiv Gauba on Thursday reviewed the progress of the production-linked incentive scheme (PLI) for sectors that are "generally doing very well" like pharma and electronics, a senior official said. Another such review is expected for the remaining sectors, the official said. The scheme was announced in 2021 for 14 sectors such as 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. "Today we covered sectors that are generally doing very well like pharma, electronics and mobile manufacturing, and white goods. Others which have not fully taken off are coming up later," the official said. "They are doing well but they can do better. We are in the process of consulting whether any minor tweaking is required. Once we complete the process, we will be in a position," the official adde

Cabinet approves PLI scheme worth Rs 1.97 trillion for 14 sectors

The PLI scheme is further expected to have a cascading effect on the country's MSME ecosystem

Centre plans to scrap mandatory electric vehicle incentive-linked tests

After receiving a report from the committee, the ministry is considering scrapping the mandatory testing parameters

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).