Page 23 - Pli Scheme

Rs 611 cr allocated to incubators under startup seed fund scheme so far

The government has allocated Rs 611 crore to incubators and out of that, Rs 61 crore was released to startups under the seed fund scheme so far, an official said on Tuesday. In April 2021, the government launched the Startup India Seed Fund Scheme (SISFS) with a corpus of Rs 945 crore. The corpus is divided over the next four years (till 2025) for providing seed funding to eligible startups through eligible incubators across India. The fund aims to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry, and commercialisation. The scheme has completed two years and it is helping in promoting innovation, joint secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Manmeet Nanda told reporters here. She said that so far 165 incubators have been selected under the scheme and Rs 611 crore has been approved for them. "Over 1,000 startups are benefitted from the scheme so far," she said, adding if requ

TMS Ep422: PLI scheme, Ease of Moving Index, markets, double jeopardy

Has the PLI scheme lived up to expectations? What does 'Ease of Moving Index' tell us about Indian cities? How to trade the markets ahead of US Fed? What is double jeopardy? All answers here

Centre extends EV battery safety certification deadline by 6 months

The certification was compulsory for manufacturers from April 1, 2023, if they wanted subsidies under various EV-promotion schemes

After a slow start, PLI scheme may switch on the afterburners in FY24

Rs 8,083 cr is expected to be disbursed this fiscal

Govt releases regulations under PLI scheme for automobile industry

The Union government on Thursday announced the standard operating procedure of the production linked incentive scheme for automobile sector, whereby applicants can submit applications for testing and certification of advanced automotive technology products, which will help them qualify for incentives. Minister of Heavy Industries Mahendra Nath Pandey said his ministry is trying to align itself with the Prime Minister's vision of Aatmanirbhar Bharat, and these SOPs (standard operating procedures) will not only help achieve that but will also help in increasing the manufacturing foothold. With this, the ministry aims to boost the domestic manufacturing sector and reduce dependence on imports, thereby creating more job opportunities for Indians. Pandey also added that it would contribute to the overall economic growth of the nation. The scheme is expected to attract significant investments and help India become a global hub for automobile manufacturing, an official statement said. The

Top headlines: PLI incentives to 8 sectors, tweak in SEZ rules, and more

Business Standard brings you top news at this hour

Electronics manufacturing gets a reality check; only $225 bn value by FY26

Owing to the lukewarm response, the PLI scheme for IT hardware is being rewor­ked

Cabinet approves National Medical Devices Policy 2023: Mansukh Mandaviya

Briefing the media after the Cabinet meeting, Union Health Minister Mansukh Mandaviya said the National Medical Devices Policy will promote domestic production of medical devices

Production incentive scheme draws $6.54 bn in investments till Dec 2022

While New Delhi pays local manufacturers when sales targets are met, the scheme helps draw investments and create new jobs

Govt pays PLI incentives worth Rs 2,874 crore towards 8 sectors in FY23

Empowered group of secretaries, Aayog review some sectors to bring them to 'acceptable levels'

Handset production down 20% YoY, companies sitting on 10 weeks of inventory

For the period between January and March 2023, the sales went down by 18 per cent compared to the same period last year

Launch 'PLI Plus' to focus on development to boost manufacturing: GTRI

The government should consider launching a 'PLI Plus' scheme with focus on development of new products, industrial designs and enhancing productivity with a view to boost domestic manufacturing, economic think tank GTRI said on Sunday. A production-linked incentives scheme (PLI) is under implementation by the government with a budgetary outlay of about Rs 2 lakh crore for 14 sectors such as white goods, mobile, telecommunication and auto components. The Global Trade Research Initiative (GTRI) report said that creating sustainable and competitive manufacturing is imperative to increase the share of manufacturing in GDP to 25 per cent by 2030, up from 15 per cent at present. "This will require shifting focus to one step back. From quick manufacturing outcomes to R&D, reverse engineering, and deep work. "This can be done under the Make in India framework with the launch of eight PLI Plus initiatives. These initiatives will strengthen the foundation of Indian manufacturing and aspire .

Govt to form ESG taskforce, finalise contours of PLI for textile: Goyal

The government will form an Environmental, Social, and Governance (ESG) taskforce for the textiles sector to enhance its credibility in view of India's own commitment to sustainability, Union Minister Piyush Goyal on Saturday. Talking to reporters, the Minister of Commerce & Industry and Textiles also said that the contours of the Production Linked Incentive (PLI) scheme for the textile sector will soon be finalised and taken up for approval at the higher level. The ESG taskforce which will look at environmental, social and governance issues in the textile sector as credibility is becoming more and more important and exporters shared that they were getting twice the value for the same product if it is a sustainable product. "We have discussed that textile will also contribute to that and this group will come up with suggestions which will help the textile sector become more sustainable in their current operations and also look for more opportunities in sustainable textiles," said .

Foxconn likely to expand its Chennai iPhone manufacturing facility

The two new facilities that Foxconn is likely to build will be in addition to the two other buildings the company already has in place

India will have its own big telecom equipment manufacturers soon: C-DOT CEO

Rajkumar Upadhyay said that the Centre's push for domestic design and manufacturing of telecom equipment will help India to compete with global majors

India to make up 7% of iPhones assembled in the world, say experts

Under the PLI in FY23, the collective commitment of Apple vendors to be eligible for the scheme was to produce phones with an FOB value of Rs 24,000 crore

As Apple India sales near $6 bn, CEO Cook arrives to launch first stores

Apple's India sales surged during the pandemic as customers bought iPhones, iPads and MacBooks to work and study from home. And that momentum has continued, helped by financing and trade-in options

Supported by PLI, export of electronic products overtake garment exports

Data released by the commerce department estimates that the exports of electronic products may have increased over 50 per cent in the financial year 2022-2023 to $23.6 billion

PLI for smartphone manufacturing: Foxconn, Wistron, Dixon lead the pack

Foxconn met its manufacturing targets within the first nine months of the last fiscal year

Roller-coaster ride: How Apple's India strategy finally bore fruit

Behind the inauguration of two signature stores next week is a roller-coaster ride for the IT major in its effort to make India its alternative manufacturing and export hub