Page 22 - Pli Scheme

Apple may shift 18% of iPhone production in India by FY25: Bank of America

A report released by BofA said that the share of India in iPhone manufacturing may even go higher if Apple's vendors expand here

PLI scheme for mobile production led to 20% value addition, says govt

Of the $101 billion electronics production in FY23, smartphones constituted $44 billion

The right incentive

PLI scheme alone would not be enough

PLI schemes help boost production, employment, exports: DPIIT Secretary

The production-linked incentive (PLI) schemes have led to an increase in production, employment generation, and exports of the country, a top government official said on Tuesday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that due to the schemes, there was an increase of 76 per cent in foreign direct investment in the manufacturing sector in 2021-22 (USD 21.34 billion) compared to 2020-21 (USD 12.09 billion). The schemes were announced for 14 sectors with an incentive outlay of Rs 1.97 lakh crore (about USD 26 billion) to strengthen their production capabilities and help create global champions. Sectors which witnessed increase in FDI inflows from 2021-22 to 2022-23 are pharmaceuticals, food processing, and medical appliances. As of date, 733 applications have been approved in 14 sectors with expected investment of Rs 3.65 lakh crore. Actual investment of Rs 62,500 crore has been realized till March 2023 which has resul

Production boost: PLI schemes 'course correction' likely in some sectors

Progress sluggish in six of 14 sectors and are yet to receive incentives

Concerned departments may consider course correction for PLI scheme: DPIIT

Concerned departments where the production-linked incentive scheme is not picking up may consider some course correction in the plan, a top government official said on Tuesday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said the concerned ministries have to see if PLI disbursement is low or if firms are not able to meet their performance thresholds, in such cases, sometime relaxations may be required like the way it has been done for the IT sector. Last month, the government announced the PLI 2.0 for IT Hardware with a budgetary outlay of Rs 17,000 crore. "We are hopeful of utilising Rs 1.97 lakh crore for the scheme...but in an individual scheme, there may be some course correction," Singh told reporters here. The government has announced the PLI (production-linked incentive) scheme 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

Involve Indian firms, officials in your ops: Govt to Chinese smartphone cos

Chinese smartphone-maker firms have been asked to appoint Indian officials to posts such as chief executive officer, chief operating officer, chief financial officer, and chief technical officer

Top headlines: Banga calls for new playbook, centre to review PLI scheme

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In a first, Centre to review PLI scheme to sort out teething issues

Interactions with line ministries lined up to seek feedback

Rs 25,938-cr Auto PLI scheme: Centre considers paying incentive quarterly

Incentives for FY23 yet to be disbursed as OEMs yet to furnish requisite documents, say officials

Centre aims at covering refractories in PLI 2.0 to support steel industry

The Centre is looking to include refractories in the upcoming Production Linked Incentive Scheme 2.0 for steel as it aims at doubling the country's production capacity for the metal to 300 million tonne by 2030, an official said. Refractories are a critical input for steel production, and India depends on the import of the raw material. The Ministry of Steel is currently in talks with the refractory industry to develop an incentive policy to boost domestic production and reduce the country's dependence on imports from China, he said. "The steel industry is a major user and consumer of refractories. Currently, 70 per cent of the refractory is consumed by the sector. The vision of doubling the steel capacity in the next 6-7 years requires focused attention on the development of the key raw material," Ministry of Steel Joint Secretary Abhijit Narendra said during a recent meeting with industry stakeholders in Kolkata. The PLI 2.0 scheme is expected to be announced soon, and consultati

Samsung may lose PLI scheme incentives for 1st yr due to invoicing issues

In 2021, the electronics major had claimed a sum of Rs 900 crores as incentive for completing Rs 15,000 crore worth of additional sales than the previous year

Apple unlikely to apply for subsidies under PLI 2.0 scheme: Report

Apple will continue to focus on making iPhones in India and make Vietnam a hub to make MacBooks

Give us a road map and timeframe for local supply chain: India tells Tesla

At present, most of Tesla's vendors are Chinese, and they will need to establish joint ventures with Indian firms to operate in the country

IT hardware players to lose on PLI incentives for failing to meet targets

Under revised scheme, 5% penalty to be deducted from amount due if actual PLI figure for a year is 25-50% lower; if shortfall exceeds 50%, then penalty is 10%

MeitY invites applications for incentives under PLI 2.0 for IT hardware

Ministry of Electronics and Information Technology opens the window for applications under the PLI scheme 2.0 for IT hardware to enhance manufacturing electronics sector

Govt plans PLI for chemicals used in pharma, other industries: Mandaviya

Chemicals and Fertilisers Minister Mansukh Mandaviya on Friday asked pharma-medical devices industry to focus on manufacturing quality products at an affordable rates to compete globally, and announced plans to bring Product Linked Incentive (PLI) scheme for basic chemicals. Addressing an international conference on pharma and medical devices sector, the minister asserted that the Modi government is "pro-poor, pro-farmers but also industry-friendly" and said all policies are being framed after extensive consultations with the industry and other stakeholders. Mandaviya highlighted that India is the "pharmacy of the world" and the industry needs to focus on research and innovations, besides being aware of development across the world, to maintain its leadership position. He said the industry should be ready to face global competition. To win global competition, Mandaviya said there is a need to "bring affordability, and do quality manufacturing." "We have to advance our reputation w

Top headlines: Post offices can't change Rs 2,000, new Digital India Bill

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Rectified PLI scheme attractive for global IT hardware makers: Experts

Union Cabinet last week approved the modified PLI Scheme for IT Hardware with more than doubling budgetary outlay to Rs 17,000 cr compared to the previous provision of Rs 7,325 cr

Govt shouldn't roll out PLI for shoes, handicrafts, says think tank boss

These items are mostly made by small firms while scheme focuses on scale production; Small firms don't need PLI--they need access to tech and low-cost finance through separate schemes