Page 5 - Pli Scheme

Companies commit Rs 17,000 cr investment under PLI for speciality steel

A total of 25 companies signed 42 agreements with the government to manufacture high-end steel at an estimated investment of Rs 17,000 crore under the second round of the PLI Scheme for speciality steel, an official statement said on Monday. In January, Union Minister of Steel and Heavy Industries HD Kumaraswamy launched the second round of the PLI scheme for speciality steel, termed PLI Scheme 1.1. "The second round has seen greater enthusiasm, with 25 companies submitting 42 applications, committing investments worth Rs 17,000 crore," the Ministry of Steel said. The companies signed memorandums of understanding (MoUs) with the Ministry of Steel to produce five types of high-grade steel. In the first round, 44 applications were submitted by 23 companies, with incentives already disbursed for one project. "Domestically, we are not manufacturing speciality steel, but I personally request our steelmakers to invest in speciality steel plants. If you succeed in producing speciality st

Centre disbursed Rs 14,020 crore for 10 sectors so far under PLI schemes

The government has disbursed Rs 14,020 crore under Production-Linked Incentive schemes for ten sectors, including electronics and pharma, since the launch of the support measure to boost domestic manufacturing, an official statement said on Saturday. In 2021, the government announced Production-Linked Incentive (PLI) schemes for 14 sectors like telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell batteries, drones, and pharma, with an outlay of Rs 1.97 lakh crore. "The incentive amount of around Rs 14,020 crore disbursed under PLI schemes for 10 sectors," the commerce and industry ministry said. These sectors are large-scale electronics manufacturing, IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom and networking products, food processing, white goods, automobiles and auto components and drones. Individual cases have been approved over a

Expand PLI scheme to labour sectors: Parliamentary committee to govt

The committee also recommended that the commerce department should 'proactively' take measures to conclude the FTAs

Govt has finalised design, outline of ISM phase two, to support semicon

The government is also working to make sure that the fabless semiconductor chip' ecosystem is also enhanced further by making changes to the design linked incentive scheme

Nokia exporting up to 70% of India production, says Tarun Chhabra

The company in India saw its revenues in the fourth quarter (Q4) of 2024 hit Euro 463 million, up by 22 per cent from Euro 379 million in Q4 of 2023

Don't be mere spectator, grab global opportunities: PM Modi to industry

The PM also pressed the point that India remains a growth engine for the global economy and that it has proven its resilience in challenging situations

Ola Electric gets IFCI notice for missing PLI-ACC scheme milestones

Ola Electric Mobility on Tuesday said its wholly-owned subsidiary has received a letter from IFCI for missing out on targets specified under the Production Linked Incentive Advanced Chemistry Cell scheme (PLI ACC). As per the government sources, the company did not meet production and investment-related criteria specified under in PLI ACC scheme. "We would like to inform you that we are in receipt of a letter from IFCI Ltd for non-achievement of Milestone -1 as per schedule M of the Programme Agreement dated July 28, 2022," Ola Electric said in a regulatory filing. The company is actively engaged with the relevant authorities in this regard and is in the process of filing an appropriate response, it added. Ola Electric Mobility Cell Technologies, a wholly-owned subsidiary of the company, had entered into a programme agreement with the Ministry of Heavy Industries for availing the scheme. Pursuant to the scheme, IFCI Ltd was appointed as the project management agency for the PLI AC

Reliance Industries seeks extension for EV battery-making plant setup

The government has slapped a penalty on a unit of Reliance Industries Ltd for failing to meet the deadline for setting up a battery cell plant for which it was granted production-linked incentives, the firm said on Tuesday. In a stock exchange filing, Reliance said its step-down subsidiary, Reliance New Energy Battery Storage Ltd on March 3 received "a letter from the Ministry of Heavy Industries levying liquidated damages at the rate of 0.1 per cent of the performance security (Rs 50 crore) for each day of delay from January 1, 2025." The penalty was for the "delay in achievement of Milestone 1 under the programme agreement executed with MHI in connection with 5 GWh manufacturing capacity awarded under the Performance-Linked Incentive Scheme for Advanced Chemistry Cell," it said. The liquidated damages or penalty computed till March 3, 2025 was Rs 3.1 crore. "RNEBSL has requested for an extension of time for achievement of the said Milestone 1," it said. The firm, however, neithe

Footwear major Bata India bats for footwear PLI to boost output, exports

Finance Minister Nirmala Sitharaman had announced a focus product scheme for the footwear sector in her Budget 2025 speech last month

Any policy formulation must factor in uncertainty, says P K Mishra

The 1972-batch IAS officer spoke highly of the government's production-linked incentive (PLI) scheme but stressed the importance of its long-term evaluation

RIL arm wins PLI order for 10 GWh battery cell capacity; stock off lows

Reliance share price: This agreement makes Reliance New Energy Battery Ltd eligible to receive incentives under India's Rs 18,100 crore PLI ACC scheme

Firms committed to investing Rs 27,106 cr under PLI scheme for steel: MoS

MoS for Steel and Heavy Industries Bhupathiraju Srinivasa Varma said that steel is deregulated sector and decisions such as investment, production are based on techno-commercial considerations

Budget 2025: Govt ups allocation for electronics PLIs, semicon, AI by 84%

The government has enhanced allocation for key technology projects, comprising production-linked incentives for mobile phones, IT hardware, semiconductor scheme and IndiaAI Mission, by about 84 per cent to Rs 18,000 crore for the next fiscal. The revised allocation for the key electronic sector project was around Rs 9,766 crore in the current financial year, according to the budget documents. The allocation for IndiaAI Mission has been increased by over 11 times to Rs 2,000 crore. The IndiaAI mission is spearheading development of the country's artificial intelligence ecosystem including providing financial support for compute infrastructure. The total allocation for Ministry of Electronics and IT has been raised by about 48 per cent to Rs 26,026.25 crore for 2025-26 against Rs 17,566.31 crore under the revised allocation for the current fiscal. The highest allocation of Rs 8,885 crore has been made for the production-linked incentive scheme for Large Scale Electronics Manufacturin

PLI scheme in the works to boost localisation of key telecom gear

In its discussions with stakeholders, according to the sources, the government has proposed two alternative models for linking incentives to a localisation roadmap

PLI scheme expansion for handicrafts, leather to create more job: Deloitte

The government in its coming Budget must extend fiscal benefits under the PLI (production linked incentive) scheme to sectors such as handicrafts and leather that can create more jobs, Deloitte said on Sunday. It also suggested that the existing PLI schemes must continue in sectors that have seen success, such as electronics, auto and semiconductors. The government in 2021 announced PLI schemes for 14 sectors, including telecommunications, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma, with an outlay of Rs 1.97 lakh crore. Deloitte further suggested that to improve global liquidity (once the Western central banks start easing their monetary policies), the government can raise the ceiling for investment size and remove location restrictions to attract more foreign investment. "Multi-brand retail and e-commerce are some sectors that may benefi

Govt disburses Rs 1,596 cr in six PLI schemes between Apr-Sep in FY25

The government has disbursed Rs 1,596 crore under Production-Linked Incentive (PLI) schemes for six sectors, including electronics and pharma, during the April-September this fiscal, an official said. The government in 2021 announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 lakh crore. Out of the total Rs 1,596 crore, the maximum amount of Rs 964 crore was disbursed under the PLI scheme for large-scale electronics manufacturing. It was followed by pharma (Rs 604 crore), food products (Rs 11 crore), telecom (Rs 9 crore), bulk drugs (Rs 6 crore) and drones (Rs 2 crore). Incentives disbursed till 2023-24 stood at Rs 9,721 crore, the official said adding the scheme is having a cascading effect on the country's MSME ecosystem. The anchor units that will be built

Budget 2025: Space sector seeks PLI scheme, more use of satellite data

India's space sector wants the government to spend more on space-based services, slash taxes to spur growth of start-ups and introduce a production-linked incentive scheme for them in the Union Budget. The sector has put forward its demand ahead of the Union Budget for 2025-26 on February 1. The Indian space economy is valued at 8.4 billion dollars and the private sector has just about started making a mark by building satellites and launch systems eyeing a manifold increase over the next decade. "Probably something like a production-linked incentive scheme for the space sector would be helpful from a budget standpoint. A lot of infrastructure development needs to be done for space as well. So, if it can be incentivised for companies to set local manufacturing, that would be great," Pixxel Space co-founder and Chief Executive Officer Awais Ahmed told PTI. The Indian Space Association (ISpA) Director General Lt Gen A K Bhatt (retd) demanded import exemptions, lower GST, and tax ...

Appliances industry seeks 2nd round of PLI, rationalisation of taxes

The appliances and consumer electronics industry on Thursday urged the government to bring the second round of the production-linked incentive (PLI) scheme for products like compressors and motors and rationalise taxes and tariffs on imports. It has also asked for reductions in tariffs on imports, which will help to make the products competitive in the global market, said industry body Consumer Electronics & Appliances Manufacturers Association (CEAMA). "We, over a period of time, need to reduce the taxes. We need to reduce our tariffs so that really, our manufacturers can become competitive. We have a large base, and really we should be manufacturing for the world," said CEAMA President Sunil Vachani. Besides, he also suggested creating large centres of excellence along the coastal areas, "where we can offer plug and play facilities to our MSMEs and offer land at attractive rates to a large corporate". This will help in building export competitiveness, Vachani added while ...

Weak demand leaves half of India's mobile manufacturing facilities idle

While mobile phone production capacity reached over 500 million units by the end of 2024, India only produced around 250 million, primarily iPhones for export

Foxconn, Dixon ask govt to pay pending production-linked subsidies

The government pledged a total of Rs 41,000 crore ($4.8 billion) in subsidies to manufacturers, and part of that remains unallocated because some companies didn't meet estimated production targets