Page 31 - Pli Scheme

Vietnam giving India a run for its money in the China Plus-One game

The smaller nation is scoring high in attracting global corporations and their suppliers

Strong rebound in BFSI funds makes a good case for taking an exposure

Since these funds can be volatile, limit your exposure to 5 per cent

At Rs 3,513 crore, Madhya Pradesh bags most textile PLI investments

Gujarat corners 13 projects, the highest

PLI for IT hardware: Draft proposes raising financial outlay by 2.5 times

Earlier, Ministry of Electronics and Information Technology (MeitY) held discussions with global IT hardware makers who are looking to move part of their production capacity from China to India

Oops! Wrong Hyundai. Govt's industrial policy misfires again with PLI gaffe

Picking the wrong Hyundai is just embarrassing. Going down a protectionist path reminiscent of the country's own, impoverished socialist past is the bigger folly

Engineering sector MSMEs seek production linked incentive scheme

An engineering sector's body of MSMEs has demanded from the government to announce a production linked incentive scheme (PLI) for the industry to boost domestic manufacturing, exports and job creation. In a communication to the commerce ministry, Ludhiana-based Hand Tools Association said that the sector provides employment to 7.25 workers for every Rs 1-crore sale per year on an average as compared to the job creation ratio of 4.75 in bicycle industry and 5-6 in textiles. Exports of hand tools industry is about Rs 3,200 crore annually. The association's President S C Ralhan said that the Indian hand tools industry has a long way to go in order to realise its full potential and it holds huge possibilities. But the main challenge is rapid modernisation, he added. "The total hand tools industry globally is Rs 30,000 crore and there is aggregate potential for modernisation and growth. Thus we request that the government should prioritise the industry and also bring it under the PLI .

PLI schemes should focus on firms making pharma products: Bharat Biotech

Production-linked incentive schemes should also focus on companies providing packaging materials and other services in addition to manufacturers of branded pharmaceutical items to reduce import dependence, according to Bharat Biotech Executive Director Sai Prasad. He also emphasised on shifting the focus towards innovative pharmaceuticals products in order to enhance the margins for industry players. "We already have policies like production-linked incentive (PLI) schemes and research-based schemes and these policies are going to be very helpful for the sector... It is our view that such policies should also focus on companies which provide goods and services to the pharma industry," Prasad told PTI in an interaction. The incentives also need to be given to single-use consumer companies, raw material packaging firms and other service providers in the pharmaceutical supply chain, he added. "If the ecosystem is strong only then the branded companies could be strong," Prasad said. He

14 of 25 HCs registered a decline in pending PILs in 2021, shows data

Overall, they cleared 83.7 per cent of instituted cases until August 2021- the highest in four years

Latest news LIVE: ED attaches assets worth Rs 2,747 cr in ABG Shipyard case

From Covid to the Russia-Ukraine war, catch all the latest news development here

Top Headlines: Fed's 3rd big hike, liquidity slides into deficit, and more

Federal Reserve officials raised interest rates by 75 basis points for the third consecutive time and forecast they would reach 4.6% in 2023

Cabinet approves second tranche of solar PLI worth Rs 19,500 crore

The corpus was increased to Rs 19,500 crore under the Union Budget 2022-23 to accommodate the large number of bids

Govt takes PLIs back to the drawing board amid critical challenges

With this signature manufacturing scheme facing critical challenges, the government is reworking parts of the programme in consultation with companies

Govt tweaks Rs 76k-cr semiconductor, display fab scheme to woo global firms

The Cabinet on Wednesday approved modifications in the scheme for semiconductors and display manufacturing ecosystem, with uniform fiscal support of 50 per cent of project cost for all technology nodes under the ambitious programme. Announcing the decision of the Cabinet, Union Minister Anurag Thakur said the modifications will strengthen the semiconductor scheme, thus raising capacities within the country, encouraging investments, and creating employment opportunities. "Under modified programme, a uniform fiscal support of 50 per cent of project cost shall be provided across all technology nodes for setting up of Semiconductor Fabs," an official release said. Given the niche technology and nature of compound semiconductors and advanced packaging, the modified programme shall provide fiscal support of 50 per cent of capital expenditure for setting up of compound semiconductors / silicon photonics / sensors / discrete semiconductors fabs. "The programme has attracted many global ...

Rs 19,500 cr PLI-II for solar equipment to save Rs 1.4-trn forex: R K Singh

Union Power Minister R K Singh on Wednesday exuded confidence that the second version of production linked incentive (PLI-II) scheme for solar manufacturing worth Rs 19,500 crore, will help save close to Rs 1.4 lakh crore forex every year. The Union Cabinet, chaired by Prime Minister, Narendra Modi, approved the implementation of the Production Linked Incentive Scheme (Tranche II) on National programme on High-Efficiency Solar PV Modules', with an outlay of Rs 19,500 crore for achieving a manufacturing capacity of 65 Giga Watt (GW) scale in High-Efficiency Solar PV Modules. The government has expanded the scope under PLI-II as the domestic manufacturing capacity will also boost exports. The PLI-I for solar modules was worth Rs 4,500 crore, which was brought with intent to meet domestic requirement mainly as India has been importing solar equipment. "This (PLI-II for solar module) will lead to a saving of Rs 1.40 lakh crore saving because of domestic manufacturing. And it will also .

Govt approves Rs 19,500-cr PLI scheme for manufacturing solar PV modules

The Cabinet on Wednesday approved a Rs 19,500-crore production linked incentive (PLI) scheme on 'national programme on high efficiency solar PV modules' with an aim to attract Rs 94,000 crore investment in the sector. One of the the benefits expected from the PLI scheme is that about 65,000 MW per annum manufacturing capacity of fully and partially integrated solar PV modules would be installed. Giving details about the Cabinet decision, information and broadcasting minister Anurag Thakur said that about 2 lakh direct jobs would be created in the sector. The national programme aims to build an ecosystem for manufacturing of high efficiency solar PV modules in India and reduce import dependence in the area of renewable energy. The initiative is expected to reduce import substitution of about Rs 1.37 lakh crore. Solar PV manufacturers will be selected through a transparent selection process. PLI will be disbursed for 5 years after commissioning of solar PV manufacturing plants and s

Govt working on PLI schemes for more products to boost manufacturing: Goyal

The government had rolled out PLI schemes for 15 key sectors, including technology, textile, automobile, pharmaceutical drugs, speciality steel, electronics, among others

35 firms submit applications under PLI scheme for specialty Steel: Scindia

As many as 35 companies have submitted 79 applications under the PLI scheme for specialty steel, Union Minister of Steel Jyotiraditya Scindia said on Tuesday. The minister shared the information while speaking at the 'National Management Convention' organised by the All India Management Association (AIMA) in the national capital. "We closed all the applications two days ago and we received close to 79 applications from 35 companies. Looking at putting in place a capacity close to 28 million tonne per annum (MTPA) of new specialty steel capacity which will result in the creation of 70,000 jobs," he said. The applicants include major steel players like Tata Steel, JSW Steel, JSPL, AMNS India and SAIL, a senior steel ministry official told PTI. However, there was no proposal from any foreign entity. After shortlisting the proposals, the government will come out with a final list which would take around 35-40 days, the official said. September 15 was the last date for manufacturers to

Will NITI Aayog-like bodies come up in the states and will they deliver?

Experts believe that merely replacing the state boards with Aayog-like bodies will not make them institutions which would be looked at seriously by the governments

Govt receives 75 applications under PLI scheme for specialty steel

The government has received around 75 applications from domestic players under the PLI Scheme for specialty steel, according to an official. Applicants include all major steel players like Tata Steel, JSW Steel, JSPL, AMNS India and SAIL, a senior steel ministry official said. "A significant number of applications have been received. There around 75 applications," the official said. However, no proposal has been received from any foreign entity, according to the official. After shortlisting the proposals, the government will come out with a final list which would take around 35-40 days, the official said. The government had set the final deadline on September 15 after several extensions for receiving proposals from manufacturers for benefits under the PLI (Production-Linked Incentive) scheme for speciality steel. The Union Cabinet in July last year approved a Rs 6,322-crore PLI scheme to boost the production of speciality steel in India. The move is expected to attract an additi

'Make in India' smartphones share reach 16% in Q1 with 44 mn units: Report

The Indian government's push with multiple PLI schemes has been showing a positive impact and "we saw increased local manufacturing share in product segments like smartwatch, TWS, neckband and tablet