Page 26 - Pli Scheme

Investment target under mobile PLI scheme increases to Rs 5,124 cr: MoS IT

The cumulative investment under the production-linked incentive scheme to boost mobile manufacturing has increased to Rs 5,124 crore till December from the Rs 3,726 crore target set earlier for the current fiscal, Parliament was informed on Wednesday. Minister of State for Electronics and IT Rajeev Chandrasekhar in a written submission to the Lok Sabha shared that the cumulative investment target for the entire scheme period is Rs 7,000 crore. The data shared by the minister shows that the government has set a target to achieve production of Rs 8.12 lakh crore under the five-year scheme period of the Production Linked Incentive (PLI) Scheme for Large Scale Electronics Manufacturing (LSEM) to boost mobile phone manufacturing. "Over the tenure of the PLI Scheme, the 16 approved companies are expected to lead to a total production of more than Rs 8,12,550 crore. Out of the total production of Rs 8,12,550 crore in the next 5 years, around 60 per cent is expected to be contributed by ...

RIL, 10 other firms bag 39,600 MW solar capacity order under PLI scheme

As many as 11 companies, including Indosol, Reliance and First Solar, have bagged solar photovoltaic manufacturing projects of a total 39,600 MW capacity under the second tranche of the production-linked incentive scheme of the government. The government has allocated a total capacity of 39,600 MW of domestic Solar PV module manufacturing capacity to 11 companies, with a total outlay of Rs 14,007 crore under the Production Linked Incentive Scheme for High-Efficiency Solar PV Modules (Tranche-II), a power ministry statement said. The ministry said that manufacturing capacity totalling 7,400 MW is expected to become operational by October 2024, 16,800 MW capacity by April 2025 and the balance 15,400 MW capacity by April 2026. The Tranche-II is expected to bring in an investment of Rs 93,041 crore. It will also generate a total of 1,01,487 jobs with 35,010 getting direct employment and 66,477 being indirectly employed. Speaking on the success of the PLI scheme, Union Minister for Pow

No new incentive plan for services exports under foreign trade policy

Services exports, however, grew over 36 per cent in February at $29.15 billion, according to the Department of Commerce's estimates

Apple's vendor planning to set up second factory, Pegatron explained

Pegatron is planning to set up its second factory near Chennai in Tamil Nadu. Pegatron opened its first plant only six months ago

Indian handset makers struggle to meet PLI targets; Apple leads the game

Lava International, Bhagwati (Micromax), and local contract manufacturer Optiemus have so far been unable to meet the targets

India faces basic contradiction in drafting policies for renewables sector

Frequent changes in rules governing domestic equipment use in projects is slowing capacity addition

Five firms make the PLI cut to manufacture hydrogen-powered vehicles

Ashok Leyland, Eicher, Pinnacle, Tata, and Booma get the nod

Indian mobile exports to cross $10 bn in FY23; Apple may account for 50%

Buoyed by attractive government incentives towards local manufacturing, India is all set to reach a remarkable $10 billion (over Rs 82,000 crore) worth smartphone exports

PHDCCI seeks revival of credit linked subsidy for micro, small units

Industry body PHDCCI has approached the government seeking reintroduction of the Credit Linked Capital Subsidy Scheme to facilitate technology upgradation of micro and small enterprises. The scheme provided an upfront capital subsidy of 15 per cent subject to a maximum amount of Rs 15 lakh on institutional finance availed by the enterprises for induction of well-established and improved technology in the specified 51 sub-sectors/products. It was valid till 2019-20 and was discontinued thereafter. President of PHD Chamber of Commerce and Industry (PHDCCI) Saket Dalmia took up the issue in a letter to Union Minister for Micro Small and Medium Enterprises Narayan Rane last week. "We have been receiving feedback from our MSME members requesting us to take up the issue with the government for revival and reintroduction of the scheme as MSMEs still need this kind of financial support. We, therefore, earnestly request your good self to kindly look into this matter and initiate necessary ..

Samsung eyes expansion, planning to make India smartphone manufacturing hub

The South Korean electronics major plans to invest in setting up smart manufacturing capabilities at its second-largest mobile phone plant in Noida

Top headlines: UBS likely to buy C Suisse, direct tax collection up 15.3%

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Govt planning PLI 2.0 to boost production of specialty steel: Scindia

The government is planning to introduce the second edition of the PLI scheme for specialty steel to boost production of value-added steel in the country, Union Minister of Steel Jyortiraditya Scindia said on Friday. The minister was speaking at the PLI Scheme for Specialty Steel MoU signing event in the national capital. It was attended by the companies selected to invest under the Rs 6,322-crore scheme. "Today is an important day in the history and future of the steel industry. PLI 1.0 is not a full stop, it is the beginning of the journey. Our ministry is already looking at PLI 2.0," he informed the participants of the first edition of PLI for specialty steel. The minister further asked the industry stakeholders to share their suggestions and feedback so the next PLI Scheme for specialty steel can be prepared at the earliest. As many as 27 steel companies signed 57 memorandum of agreements (MoUs) with the Ministry of Steel at the event to produce coated/plated steel products, hig

PLI scheme push: Electronics is India's fastest-growing export

The government has an aggressive target for exports of electronics

Foxconn Technology plant in India to assemble Apple AirPods in India

For Foxconn the $200 million investment in the new factory comes over and above the Rs 1,000 crore it has invested in its unit in Tamil Nadu to make iPhones under the PLI scheme

Lenovo will end FY23 with over 5 mn made-in-India products: MD Katyal

'For smartphones, India became the second largest market in the world around five years ago'

IT hardware manufacturers flag PLI investment clause; cite demand issues

The IT manufacturers have said that they have underutilised capacities that first need to be used up before they can commit to further expansion

Centre likely to discontinue second phase of Fame-II scheme after FY24

Instead of the Fame-II scheme, the benefits may be given through the production-linked incentive (PLI) scheme

Foxconn Technology eyes second chip plant in India, sans govt incentive

First unit, by Vedanta-Foxconn JV, under PLI scheme

Atmanirbhar push: Rs 7,000-cr PLI boost for toys, bicycle components soon

Commerce and Industry Minister Piyush Goyal had said the finance ministry regularly keeps allocating money for PLI

PLI schemes will drive job creation in next two years: TeamLease report

60% of employers in survey express hiring intent; pharma has the highest positive hiring sentiment (68%) followed by white goods (67%) and textile products (62%)