Page 22 - Pli Scheme

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

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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

Do not extend PLI for small firm-dominated products: GTRI to Govt

The government should not extend fiscal support under the production linked incentive scheme (PLI) to small firm-dominated products like leather shoes and handicraft as the move may shift business away from those enterprises, think tank GTRI said in a report on Monday. Global Trade Research Initiative (GTRI) said small firms need assistance like access to technology and low-cost finance and not PLI. It also said PLI for industries like food processing or auto, where many domestic manufacturers make similar products, introduces competitive distortion by giving money to a few firms. "PLI money at the rate 4-6 per cent of incremental sales could increase profit margins by 30-40 per cent, giving a considerable price advantage over others," GTRI Co-Founder Ajay Srivastava said. He said non-PLI recipients suffer for no fault and the scheme should avoid incentivizing such sectors. It should focus only on cutting-edge product groups where India has no manufacturing capabilities, he added.

Measuring success

Increasing PLI allocation will not be enough

Cabinet okays revised IT hardware PLI scheme with Rs 17,000-cr outlay

New scheme may offer sops of up to 9% on incremental sales of laptops, tablets, all-in-one PCs, servers and edge computing devices made in India; tenure extended to six years from four

New PLI scheme to attract global cos to India from China: Ashwini Vaishnaw

In a Q&A, the minister of communications says the new scheme for IT hardware also invites Chinese players to set up shop under the scheme if they adhere to its norms

Cabinet approves PLI Scheme 2.0 for IT Hardware with Rs 17,000 cr budget

The Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the Production Linked Incentive Scheme 2.0 for IT Hardware with a budgetary outlay of Rs 17,000 crore. Electronics manufacturing in India has witnessed consistent growth with a 17 per cent compound annual growth rate (CAGR) in the last 8 years to cross a major benchmark in production -- USD 105 billion (about Rs 9 lakh crore) -- this year. "For IT PLI, the budgetary outlay is Rs 17,000 crore. The tenure of the programme is 6 years," Union Minister for IT and Telecom Ashwini Vaishnaw told reporters after the cabinet meeting. PLI Scheme 2.0 for IT hardware covers laptops, tablets, all-in-one PCs, servers and ultra-small form factor devices. The minister said the scheme is expected to lead to incremental production of Rs 3.35 lakh crore, incremental investment of Rs 2,430 crore and create incremental direct employment for 75,000 people during the scheme period. The government in February 2021 approved the PLI

Vedanta-Foxconn JV set to get govt approval for its chip-making plant

VFSL is a joint venture between India's Vedanta Group and Taiwan's Hon Hai Precision Industry (Foxconn). The two have 63 and 37 per cent stake in the company, respectively

Apple to not make iPads, Mac PCs but may manufacture AirPods in India

This comes amid reports that the Cupertino-based tech giant may soon start producing all its major products in India

No closing dates for PLI scheme, govt makes it easier to avail benefits

Apart from the semiconductor production-linked incentive scheme, the govt is also planning incentive schemes for computers and devices, telecom, automotive, and IT hardware

What critics of the govt miss: Not much is lost if the PLI scheme fails

Seeking a repeat of the East Asian model of merchandise export-led growth is a chimera. For India, services drive export growth, writes T N Ninan