Page 6 - Pli Scheme

Govt to launch another round of PLI scheme for steel sector on Monday

The government will launch another round of production-linked incentive scheme for the steel sector on Monday. The 'PLI scheme 1.1' will be launched by the steel minister H D Kumaraswamy. "Union Minister of Steel and Heavy Industries...will launch 'PLI scheme 1.1' for the steel industry and call for applications...on January 6," the steel ministry said in a statement. To encourage domestic production of specialty steel and lower imports by drawing in capital investments, the government had earlier introduced the PLI scheme for specialty steel. The scheme has attracted investments worth Rs 27,106 crore, envisaging creation of 14,760 direct employment opportunities with an estimated production of 7.90 million tonnes of specialty steel. As of November 2024, companies have already invested Rs 18,300 crore and generated over 8,660 in employment. The government has been interacting regularly with the participating companies and based on feedback, it was felt that there was a scope to n

Tata Motors, M&M to get incentives worth Rs 246 crore under PLI scheme

The budgetary allocation for this scheme is Rs 25,938 crore

Govt clears PLI incentive of Rs 246 cr sought by M&M, Tata Motors

According to sources, Tata Motors submitted an incentive claim of approximately Rs 142.13 crore based on determined sales in FY 2023-24

Cos invested Rs 17,581 cr under PLI for specialty steel till Oct: Govt

Companies have invested Rs 17,581 crore under the production-linked incentive (PLI) scheme for specialty steel till October 2024, the government said on Monday. To encourage domestic production of 'specialty steel' and lower imports by drawing in capital investments, the government introduced the PLI scheme for specialty steel. "As of October 2024, companies have already invested Rs 17,581 crore and generated over 8,660 in employment," the steel ministry said in a statement. Participating companies have committed to an investment of Rs 27,106 crore, direct employment of 14,760 and estimated production of 7.90 million tonnes of 'specialty steel' identified in the scheme. The ministry earlier said investments in the steel sector have a long gestation period and depend on factors such as procurement of various equipment, many of which are from abroad. Delays due to unavoidable circumstances in the projects include supply chain delays due to geopolitical issues, unforeseen events, nat

Centre approves laptop and tablet imports for 2025 with mid-year review

The union government has approved the import of laptops and tablets for the year 2025, with a mid-year review to address supply-demand gaps and promote a gradual shift to local manufacturing

Just 12 OEMs achieve 50% domestic value addition target in PLI-Auto

The champion OEMs include Tata Motors, Mahindra & Mahindra, Ola Electric Technologies, Eicher Motors, TVS Motor Company, and Bajaj Auto

Govt releases Rs 331.8 cr under PLIs; Jabil Circuit, Nokia receive the most

The government has disbursed total incentive of Rs 331.86 crore to 18 of 42 beneficiaries under the telecom PLI scheme as on October 31, Parliament was informed on Wednesday. Minister of State for Telecom Pemmasani Chandra Sekhar in a written reply to the Lok Sabha said as on October 31, the PLI (production-linked incentives) beneficiaries have reported employment of 25,359 people and total sales of Rs 68,708 crore, including exports of Rs 13,007 crore. According to data shared by the minister, Jabil Circuit India leads the chart of beneficiary companies under the list with a total incentive of Rs 78.62 crore. It is followed by Nokia Solutions and Networks India Pvt Ltd that has received incentives of Rs 46.92 crore, Tejas Networks Rs 32.66 crore, Flextronics Technologies (India) Rs 30.6 crore, Commscope India Rs 25.95 crore, NeoLync Tele Communications Rs 21.79 crore, Rising Stars Hi-Tech Rs 20.33 crore. Sanmina-SCI India, which is majorly owned by RIL group firm, received an ...

Rs 1.46 trn investment realised across 14 PLI sectors till Aug: Govt

The government on Tuesday said investment of Rs 1.46 lakh crore have been realised, resulting in incremental production and sales of over Rs 12.50 lakh crore across 14 PLI sectors till August this year. In a written reply to the Lok Sabha, Commerce and Industry Minister Piyush Goyal said that keeping in view India's vision of becoming self-reliant, Production Linked Incentive (PLI) Schemes for 14 key sectors have been announced with an outlay of Rs 1.97 lakh crore to enhance manufacturing capabilities and exports. "As on August 2024, across 14 sectors, investment of Rs 1.46 lakh crore have been realised, which has resulted in incremental production/sales of over Rs 12.50 lakh crore, employment generation of over 9.5 lakhs, and exports surpassing Rs 4 lakh crore," he added. Incentives of Rs 2,968 crore in eight sectors and Rs 6,753 crore in nine sectors during 2022-23 and 2023-24, respectively, have been disbursed. As of date, 764 applications have been approved under PLI schemes

Maharashtra, Tamil Nadu, Haryana ride auto PLI manufacturing wave

Maharashtra leads the tally with 77 facilities, followed by Tamil Nadu with 46, Haryana with 37, and Karnataka with 28

DoT bats for expanded telecom PLI to push diversified manufacturing

An expanded PLI will be a key ask for the DoT during the upcoming pre-Budget inter-ministerial consultations, set to begin soon, officials said

CII body calls for expansion of PLI for medical devices to more products

CII's medtech group to ask govt for strict policy on import of refurbished devices, incentives in R&D, and enhanced rebate on export duties

Revised PLI scheme undermines autonomy of boards of PSBs, says AIBOC

Banks' officers union AIBOC on Friday said the recently announced revised Performance Linked Incentives (PLI) for Whole Time Directors and senior executives infringes upon autonomy of boards of public sector banks. Earlier this week, the Department of Financial Services announced a revised PLI scheme for Whole Time Directors. The revised scheme also included officers from Scale IV to Scale VIII of public sector banks. However, the PLI for officers up to Scale VII has already been determined through bilateral agreements between the Indian Banks' Association (IBA) and officers' associations at the industry level. These agreements, based on mandates provided by member banks' boards, also encompass officers in Scale VIII, All India Bank Officers' Confederation (AIBOC) said in a letter written to the Financial Services Secretary. The Department of Financial Services (DFS) directive undermines this well-established framework, violating the sanctity of collective bargaining and the essenc

Ficci seeks PLI 2.0, tariff review to boost electric vehicle growth

For instance, eligibility for the auto original equipment manufacturer (OEM) PLI requires global group revenues of at least Rs 10,000 crore and investments in fixed assets of Rs 3,000 crore

Centre revises PLI scheme for directors, senior executives of PSBs

The government has introduced a revised performance-linked incentive scheme for senior executives of public sector banks, including return on assets and NPA levels among parameters. The eligibility of banks for the scheme will be assessed by a government-appointed committee on the basis of four parameters, including that Return on Assets (RoA) should be positive and lower net non-performing assets (NPA). In a circular, the finance ministry said the scheme, which aims to provide to suitably reward and motivate employees for significant value creation for various stakeholders, will be effective from financial year 2023-24. The committee, headed by Department of Financial Services (DFS) Secretary, will have Additional Secretary (DFS), Joint Secretary (Banking) and Chief Executive of Indian Banks' Association (IBA) as members. According to the communication, the panel shall assess the governance mechanism in the banks for the PLI evaluation period with respect to occurrences of any maj

Initiative to expedite visas of Chinese workers helping PLI firms: Official

The government's initiative to expedite visas of Chinese technicians, whose expertise is required in Indian manufacturing firms in the PLI sector, is providing relief to such companies, a senior government official said on Wednesday. Earlier lot of firms used to flag the issue of delay in getting visas for Chinese technicians, who are required for works like installation or repair of certain machines, besides training workers in India. "Now that pendency has come down. Lot of improvement is there. There is a relief in this for those companies. The Ministry of Home Affairs has taken action pro-actively. In the last two months, things have improved a lot," the official said. A portal to facilitate these business visas was started to streamline the process. The PLI (production linked incentive scheme) scheme was announced in 2021 for 14 sectors, including telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, ...

PLI scheme subsidy payouts to eligible companies remain in the slow lane

The government has disbursed close to Rs 4,000 crore or around a fourth of its annual subsidy payment estimate to the eligible beneficiaries under the 14 PLI schemes

Smartphone PLI scheme rings in record electronics exports, shows data

The momentum in electronics exports has been built due to the big push in exports through the smartphone production-linked incentive scheme

India's import dependence on key pharma ingredients may reduce by half

Two newly inaugurated units will manufacture important molecules used in several common antibiotics

India to reduce laptop imports 5% annually from 2025, boost local output

India mulls 5% annual cut in import limits on laptops, tablets, and PCs from 2025 to boost domestic manufacturing under the Production-Linked Incentive (PLI) scheme, with free imports extended till De

Apple targets 32% of iPhone production and 26% of value in India by FY27

This could translate into a production value of over $34 billion, assuming global iPhone sales remain consistent with 2023-24 (FY24) levels