Page 23 - Pli Scheme

TMS Ep456: PLI course correction, HNI exodus, markets, dark patterns

What course correction does the PLI scheme need? Why are millionaires deserting India? Can Indian markets stay immune to US Fed's hawkish pause? What are dark patterns? All answers here

Chandrasekhar rebuts Raghuram Rajan's criticism on PLI, calls it misleading

Terming former RBI governor Raghuram Rajan as a repeat offender, Union Minister Rajeev Chandrasekhar on Thursday issued a word-by-word rebuttal of his criticism of the production-linked incentive scheme for mobile phone manufacturing. Rajan in a social media post questioned the outcome of the PLI scheme for mobile phones as companies continue to import most of the components, and the subsidies are paid on finished phones and not on the value addition done by the mobile phone companies. He also questioned if subsidies being paid to the companies under the PLI scheme and tax waivers are more than the value addition the mobile phone makers are doing in the country. The minister of state for electronics and IT said that he had responded to Rajan eight months ago when he tried to discredit the smartphone PLI after which he went and "now he is back with some deceitful numbers and shoddy comparisons". The PLI scheme for mobile phones was notified on April 1, 2020. The scheme extends an ..

Why 30% localisation an uphill task for Apple under PLI scheme in India

Apple's vendors have localised chargers, batteries, printed circuit board assembly (or PCBAs), enclosures, and coils, to name a few

GTRI calls for simplifying PLI scheme, cautions against misuse by industry

The government should consider simplifying the criteria for grant of fiscal incentives under the PLI scheme while guarding against possible misuse of those support measures by the industry, a report by think-tank GTRI said on Wednesday. The government has rolled out Production Linked Incentive (PLI) scheme for 14 sectors, including telecommunications, electronics, white goods and pharma with an outlay of Rs 1.97 lakh crore. Cautioning the government about the possible misuse of the incentives, the Global Trade Research Initiative (GTRI) said firms may easily manipulate production levels through their supporting manufacturers, group companies or contract manufacturers. Citing an example, the report said the government had to suffer huge revenue loss in the past due to the misuse of a 'Target Plus' scheme during 2003-06. "Departments implementing PLI schemes may study the Target Plus scheme misuse and be vigilant. The risk compounds when incentive is granted on quarterly production,"

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

Business Standard brings you the top headlines at this hour

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