Page 7 - Pli Scheme

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

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, ...