Page 8 - Pli Scheme

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

Uttar Pradesh: Senior bureaucrats tasked with attracting investment

Since UP is aspiring to become a trillion-dollar economy, the Yogi Adityanath government is toying with innovative ideas to achieve the ambitious target

PM Narendra Modi rolls out health cover for 70-plus senior citizens

Beneficiary base expansion to be done at an outlay of Rs 3,437 crore

Setting the dial to 2030, Bharat 6G Alliance seeks PLI scheme extension

Focus on a 10x jump in patents to lead the 6G wave

PM MITRA, PLI schemes to bring Rs 95,000 cr investment into textiles sector

India's textiles sector is expected to attract investments to the tune of Rs 95,000 crore from the seven PM MITRA mega textile parks and the PLI scheme for man-made fabrics and technical textile products in the next 3-5 years, Textiles Secretary Rachna Shah said on Monday. Apart from the two schemes, the textiles sector will also draw investments from several other channels like FDI (foreign direct investment), she shared, highlighting the government's focus on promoting "sunrise sectors" of man-made fabric, apparel and technical textile. The textiles secretary informed that "much more substantive outcomes" are being envisaged from the Bharat Tex 2025 mega textiles event to be held in February next year, in terms of not only MoUs but also investments and business generation. "We are having 7 textile parks so each of them is expected to generate something like Rs 10,000 crore of investment, that's about Rs 70,000 crore and another Rs 25,000 crore under the PLI scheme for technical ..

Voltas, Daikin, and Orient among 38 white goods PLI scheme bidders

According to Sanjiv, joint secretary, Department for Promotion of Industry and Internal Trade (DPIIT) the latest round will attract investment worth Rs 4121 crore

PLI scheme for power transmission soon: Power Secretary Pankaj Agarwal

He was speaking on the sidelines of a brainstorming session organised by the Central Electricity Authority (CEA), the technical arm of the Ministry of Power

PLI for transmission equipment manufacturing can be explored: Power secy

Various options, including PLI for transmission equipment manufacturing, can be explored to boost the power transmission infrastructure of the country, Power Secretary Pankaj Agarwal said on Monday. Agarwal said he has requested the industry stakeholders to think about ways to localize the supply chain for transmission equipment. He was replying to a question on PLI scheme for transmission equipment, on the sidelines of 'Brainstorming Conclave on Indian Power Sector Scenario by 2047' organised by Central Electricity Authority (CEA) in partnership with Ficci. "I requested the participants to also think how can we localize the supply chain for transmission equipment as global supply chains are under strain...and do we need some PLI kind of scheme for some kind of equipment....I have requested to explore that whether that can help or some of other driver would be required," the official said. Agarwal also said that about 1650 GW of renewable capacity worldwide is waiting to get connec

Voltas among 38 applicants in PLI scheme's 3rd round for white goods

As many as 38 companies, including Daikin, Voltas and Blue Star have filed applications with proposed investments of Rs 4,121 crore to avail benefits under the production-linked incentive scheme for white goods in the third round, an official said on Monday. The government in July reopened the application window for its Rs 6,238-crore production-linked incentive (PLI) scheme for air-conditioners (ACs) and LED lights to accommodate more players as several firms expressed interest in the initiative. Among the applicants, 20 are for AC components (Rs 3,679 crore) and 18 for LED Lights (Rs 442 crore). Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the scheme is benefitting the sector as the value addition has increased from 25 per cent to about 50 per cent. According to the industry, the value addition would increase to about 80 per cent in the coming years. He said that over the next three years (till 2028-29), 38 companies are

Amneal Pharma to invest Rs 1,600 crore in Gujarat to make GLP-1 drugs

Globally, there is a shortage of this new class of diabetes and obesity treatment

India will take a multi-pronged approach to boost exports: Piyush Goyal

Our national interest will always be paramount. We'll calibrate and balance our policies based on needs of the country, says Piyush Goyal

Govt asks white goods industry to apply for mfg sops in large numbers

The department for promotion of industry and internal trade (DPIIT) on Monday asked white goods manufacturers to participate in large numbers to avail fiscal benefits under the production linked incentive scheme for the sector as the response has been muted so far. Additional Secretary in the DPIIT Rajeev Singh Thakur said that the department has again reopened the application window for the PLI (production linked incentive) scheme for white goods (ACs and LED lights). The application window is open from July 15 to October 12. "In the PLI in white goods scheme, somehow the response has been muted. ...Probably due to various reasons not sufficient response has come. So I request (the industry) to have a look and probably this time, you can consider (applying)," Thakur said at the CII Consumer Electronics and Durables Summit 2024 here. So far, 66 applicants with committed investment of Rs 6,962 crore have been selected as beneficiaries under the PLI scheme. The Union Cabinet had gi

Investments in sectors under PLI schemes may hit Rs 2 trn in coming years

The 14 sectors covered under the production linked incentive (PLI) schemes have witnessed investments of Rs 1.46 lakh crore till August and the capital infusion is expected to reach Rs 2 lakh crore in the coming years, the commerce and industry ministry said on Sunday. Commerce and Industry Minister Piyush Goyal has held detailed discussions with companies that are getting fiscal benefits under the schemes to seek inputs and feedback. The minister engaged with 140 companies out of the 1,300 manufacturing units across 14 sectors, which have been the beneficiaries of the scheme. "Overall achievement of PLI schemes was also discussed during the meeting. Actual investment of Rs 1.46 lakh crore has been realised (till August 2024) and is likely to reach Rs 2 lakh crore in the next year or so," the ministry said in a statement. This has resulted in production/sales worth Rs 12.50 lakh crore and employment generation of around 9.5 lakh (direct and indirect), which is expected to reach 12

Goyal holds discussions with 140 firms getting production-linked incentives

Commerce and Industry Minister Piyush Goyal on Sunday held a detailed discussions with companies that are getting fiscal benefits under the production linked incentive (PLI) scheme. The minister engaged with 140 companies out of the 1,300 manufacturing units across 14 sectors, which have been the beneficiaries of the scheme. "We had estimated that in the 14 sectors, about Rs 1.46 lakh crore would be invested...Our estimate is that we could look at an investment of upward of Rs 2 lakh crores being seeded through the production linked incentive scheme (throughout the scheme period)," Goyal told reporters here after the meeting. At the job front, he added that originally it was estimated about 8.5 lakh jobs will be created under the PLI scheme, but looking at the numbers that some of them are saying, "we could easily look at about 12 lakh (jobs)". "It was also our expectation that we'll see additional production of about Rs 11 lakh crore. But hearing some of the numbers today, my own

Govt to launch another PLI scheme for speciality steel, says steel secy

The government is working on the another round of the PLI scheme for speciality steel as the response for the first round of the initiative did not meet expectations, according to Steel Secretary Sandeep Poundrik. The top ministry official made the remarks at CII Steel Summit 2024 in the national capital on Friday. In his address, Poundrik said speciality steel is still one area where more is needed to be done. The government brought a PLI to incentivise specialities steel but the offtake was not as expected. "So we are bringing another round of PLI so that we can get more interest in the speciality steel business," he said. Later speaking to PTI, the secretary said the government had launched Rs 6,400 crore PLI Scheme for speciality steel, out of that only Rs 2,600 crore could be allocated. Speciality steel is high grades used in sectors like defence, automobile, and electrical among others.

10-12 companies to get first set of incentives for textiles PLI scheme

Decision comes after panel flagged funding 'shortfall' in 3 out of 14 sectors