Page 28 - Pli Scheme

India will aim to achieve $100 bn export target for textiles by 2030: Goyal

Citing the case of the FTA negotiations with the United Kingdom, Goyal said the country had a 9 per cent duty on different items and if that goes away, it will benefit the sector, he said

Govt likely to finalise PLI scheme for garments by early next year

The central government is expected to finalise a production linked incentive (PLI) scheme for garments, madeups and home textiles early next year with an aim to promote small and medium units, an official said on Wednesday. The government has already announced a PLI scheme for man-made fibre garments and technical textiles. Now there are talks going on for the second edition of the scheme for the sector. The official said that discussions are on for PLI 2.0 where investment thresholds could be lower than the previous one for technical textiles and man-made fibre. "We encouraged capital and machinery in the first edition of PLI, but this time we are looking at small and medium entities," the official added. In the first round, 32 firms have begun investments worth Rs 1,500 crore. The textiles ministry had approved 64 applications under the Rs 19,798-crore scheme. PLI 2.0 for the textile sector is under consideremation as the textiles ministry has an unutilised budget.

PLI scheme qualifiers, steel ministry to ink pacts for investment proposals

Qualifiers of PLI scheme for specialty steel will soon sign agreements with the steel ministry to take their investment proposals forward. The selected players have already been sent letter of approvals post selection in the scheme, a senior steel ministry official said. On Friday, the government announced selection of 67 entries with an investment potential of Rs 42,500 crore under the scheme. The proposed investments are expected to generate 70,000 job opportunities and add 26 million tonnes of speciality steel capacity in the country. When asked about the next course of action, the official replied, "Now the selected companies will sign a memorandum of understanding (MoU) soon with the ministry of steel to take their commitments forward." Except for the divestment-bound RINL, all major steel players along with a few others participated in the scheme, the official said, adding there was no application received from any international player. As many as 35 companies had submitted

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Helped by PLI scheme, Apple's India exports set to hit Rs 20,000 crore

iPhone exports from India cross $0.5 bn in November when tech giant's production in China suffered

Expand PLI scheme for electronics inputs and components, ICEA tells Centre

The organisation has projected that components and sub-assemblies could provide a $100-billion export opportunity in the next five years

World's play store: India scripts a local toy story, turns a net exporter

India is likely to extend the production-linked incentive (PLI) scheme to domestic toy manufacturers after Chinese toys were found to be "unsafe"

Top five steel companies, few others selected under the PLI scheme

The top five steel companies -- Tata Steel, JSW Steel, JSPL, AMNS India and SAIL -- dominate the list of qualifiers under the PLI scheme for specialty steel. Besides, there are a few others like Gallant Metalliks, Shyam Metalics Flat Products, and Sunflag Iron and Steel who have been selected to invest under the production linked incentive (PLI) scheme. On Friday, the government announced shortlisting 67 out of 79 applications, with an investment potential of Rs 42,500 crore, under the PLI scheme for specialty steel. The proposed investments are expected to generate 70,000 job opportunities and add 26 million tonnes of speciality steel capacity in the country. As per an official document, Tata Steel has submitted applications to manufacture seven types of speciality steel products, while JSW Steel submitted for six categories. Jindal Steel Odisha, a subsidiary of Jindal Steel and Power Limited, has submitted the highest number of entries to manufacture eight types of specialty stee

ABRY benefitted over 60 lakh beneficiaries in pandemic: Labour minister

The Aatmanirbhar Bharat Rojgar Yojana (ABRY) meant for creating employment during the pandemic benefitted 60.13 lakh beneficiaries, Parliament was informed on Monday. The ABRY was launched on October 1, 2020, to incentivise employers to create new employment and restore employment lost during the COVID-19 pandemic. "The terminal date for registration of beneficiaries was March 31, 2022. As on November 28, 2022, benefits have been provided to 60.13 lakh beneficiaries," Minister of State for Labour & Employment Rameshwar Teli said in a written reply to the Lok Sabha. Employment generation coupled with improving employability is the priority of the government. Accordingly, the government has taken various steps to deal with the problem of unemployment in recent times, Teli told the House. The government has announced the Aatmanirbhar Bharat package to provide stimulus to businesses and mitigate the adverse impact of COVID-19. Under this package, the government is providing fiscal ...

Govt picks 67 entries under PLI scheme for specialty steel, to create jobs

The government has selected a total of 67 entries with an investment potential of Rs 42,500 crore under the production linked incentive (PLI) scheme for specialty steel. The proposed investments are expected to generate 70,000 job opportunities and add 26 million tonnes of speciality steel capacity in the country. A total of 79 applications were received from 35 small and large steel-making companies with investment commitments totalling Rs 46,000 crore to add downstream capacity of 28 million tonnes (MT) by 2030, the steel ministry said in a statement. After several extensions, the final window for participation in the PLI scheme closed on September 15, 2022. "Sixty-seven applications from 30 companies have been selected. This will attract committed investment of Rs 42,500 crore with a downstream capacity addition of 26 MT and employment generation potential of 70,000," the ministry said. Applicants include all major steel players like Tata Steel, JSW Steel, JSPL, AMNS India and

More sectors to be covered under PLI scheme soon, says Piyush Goyal

"PLI gives the kickstart, but then the industry has to move on its own strength, he said

Apple to soon overtake Samsung as India's top smartphone exporter: Report

From a minuscule share in India's phone exports a year ago, Apple's share has risen to $2.2 billion during April and October

Govt in advanced stage to launch Rs 3,500-crore PLI scheme for toy sector

Dept in advanced inter-ministerial talks; schemes for bicycles, footwear to follow

Govt working to extend Rs 3,500-crore PLI benefits to BIS-compliant toys

The government is working to extend Rs 3,500 crore worth of production linked incentive benefits to toys, which are compliant with the norms of Bureau of Indian Standards (BIS), with an aim to make domestic manufacturing globally competitive, attracting investments and enhancing exports, an official said. The official said that the measures announced by the government for the toys industry like introduction of quality control orders and increasing customs duties from 20 per cent to 60 per cent has helped in cutting down sub-standard imports and promoting domestic manufacturing in the country. "Now we are working to extend PLI (production linked incentive) benefits for toys, but it will be given to BIS-compliant toys only. PLI benefits can be given according to different investment slabs which can range from Rs 25 crore to Rs 50 crore or Rs 100-200 crore," the official added. The proposal is to give the incentives on the full product and not on components as the industry still needs

Govt issues guidelines for PLI scheme to boost domestic drone industry

The Ministry of Civil Aviation has issued guidelines for the implementation of the Production Linked Incentive (PLI) scheme to support the indigenous drone industry

Civil aviation min notifies operational guidelines for drone PLI scheme

The civil aviation ministry has notified the operational guidelines for the Production Linked Incentive (PLI) scheme for drones and drone components. The government has approved the PLI scheme with an outlay of Rs 120 crore and the scheme is to be implemented during the 2022-23 to 2024-25 period. In a communication dated November 29, the ministry said the guidelines have been finalised after consultations with stakeholders, including industry representatives. The PLI will be extended only to companies engaged in the manufacturing of drones and drone components in India. The total PLI per manufacturer is capped at Rs 30 crore which is 25 per cent of the total financial outlay of Rs 120 crore. Indian MSMEs and startups manufacturing drones and having annual sales turnover of Rs 2 crore will be eligible for the scheme. In the case of drone component makers, the eligibility threshold will be Rs 0.5 crore. For Indian non-MSMEs that are into making drones, the annual sales turnover ...

Rural distress harming MSMEs, pulling down manufacturing: Economists

Government's PLI schemes can help manufacturing and reduce import dependence in some sectors, say some experts

Karnataka may get India's first semiconductor fab facility: Report

The International Semiconductor Consortium's (ISMC)-proposed $3 billion fab may start construction as early as February 2023

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Govt plans to roll out PLI scheme to encourage container manufacturing

Currently, India does not have a robust container manufacturing market, and a large portion of its containers come from China