Page 9 - Pli Scheme

PLI scheme boosts AC industry; localisation doubles in two years

Cost disadvantage for Indian manufacturers competing with other countries falls to 12% from 18% earlier

Meity plans jobs push in proposed electronic components PLI scheme

The component scheme aims at adding value to electronics finished products from mobile devices, laptops, PCs and servers, among others

Confident of doubling sales by 2025: Danfoss India Prez Ravichandran

Danfoss India, a leader in heating, ventilation and air-conditioning, is witnessing robust growth in the domestic market and is confident of doubling sales by 2025, a top official has said. The subsidiary of the Denmark-headquartered company said the Indian market is the fastest-growing region for the Danfoss Group with strong double digit growth in H1 driven by increasing opportunities in energy efficiency and electrification. Danfoss Group's sales amounted to Euro 5 billion and a half-year EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) of EURO 533 million corresponding to an EBITDA margin of 10.6 per cent, as against 12.4 per cent last year. Driven by the rapid expansion of data centres and commercial buildings, Danfoss India is experiencing robust growth. The government's strong push towards de-carbonisation, coupled with initiatives like the Production-Linked Incentive (PLI) schemes, is further fuelling the growth momentum, Danfoss India said in a compan

EMPS progress: Achieves 60% of revised target, supporting 334,260 vehicles

Government sources credit the turnaround to the onboarding of new players and the addition of more models by existing companies, which has driven increased disbursement

Andhra govt must review PLI scheme implementation: BJP leader Dinakar

BJP leader Lanka Dinakar on Monday urged the Andhra Pradesh government to review the implementation of Centre's production-linked incentive (PLI) scheme in the state. Dinakar claimed that just one or two entities from the southern state had availed PLI scheme under previous YSRCP government to manufacture high-capacity solar photo-voltaic modules for promoting green energy. He further said the central government introduced the PLI scheme to promote 'Make in India' under Atma Nirbhar Bharat (self-reliant India) programme. At this point, we request the present state government under the leadership of Chief Minister Chandrababu Naidu to review the PLI scheme, Dinakar told PTI. According to the saffron party leader, PLI scheme's progress should be assessed with respect to the companies which availed it under the parameters such as results obtained and other quantifiable insights. He alleged that nothing worthwhile was achieved utilising this scheme under the YSRCP regime. Further, Di

Workplace safety key to get more women in labour force: IMF's Gita Gopinath

IMF's Gopinath wants govt to conduct cost-benefit analysis of PLI scheme

Jobs & growth: Good news and bad news

Our potential for decades of high growth demands the creation of millions of high-quality jobs in labour-intensive industries

Gensol, Matrix Gas win Rs 450 cr PLI scheme for hydrogen electrolyser mfg

Gensol, Matrix Gas emerged as the winning consortium for a 237 MW hydrogen electrolyser manufacturing capacity PLI scheme, part of India's National Green Hydrogen Mission

Google expands India operations with self-owned after-sales centres

Google to open walk-in service centres in Delhi, Bengaluru, and Mumbai as part of its localised support strategy

Apple exceeds PLI scheme target, ships 85% iPhones by production value

Firm commits export target of $9 billion for FY25

Rs 1.82 trillion GST from mobile phones 5 times what PLI allocated

ICEA, which provided the GST data, projects that GST collections from mobile devices between FY21 and FY26 are expected to reach Rs 3.09 trillion

Portal to facilitate business visa for Chinese technicians started: Govt

A portal to facilitate business visas for Chinese technicians, whose expertise are required in Indian manufacturing firms in the PLI sector, has started functioning, a senior government official said on Wednesday. The move assumes significance as some domestic manufacturing firms have flagged 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. "The portal started last week only. It is to streamline the process where business visas will be given to Chinese technicians in the PLI sector," the official said. The official added that the home affairs ministry has held interaction with different departments to sensitise and train them in how the portal will be used. Normally, these experts require a visa for 3-6 months for works like installation of machines and training workforce to use those machines. The PLI scheme was announced in 2021 for 14 sectors, including ...

Despite PLI push, electronics imports top $20 bn for fifth quarter

Electronic goods include the imports of computer hardware, consumer electronics, electronics components, electronic instruments and telecommunications instruments

No proposal for PLI scheme for manufacturing of shipping containers: Govt

The government on Tuesday said that at present, there is no proposal for a Production Linked Incentive (PLI) scheme for the manufacturing of shipping containers in the country. Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha that the government has taken various measures to increase the availability of containers both, for exports as well as for domestic shipments. There is no reported acute shortage of containers for exports on account of conflict between Russia and Ukraine, Israel and Hamas and Red Sea pirates, he said. "At present, there is no proposal of a PLI scheme for manufacturing of shipping containers," Prasada added. The PLI scheme was announced in 2021 for 14 sectors, including 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 ...

Meity receives lion's share of PLI scheme and semiconductor outlay

The good news is that the automotive sector, which provides incentives for electric vehicles and components, is finally taking off

Mobile phones, components worth Rs 5.14 trillion produced under PLI scheme

Production of mobile phones, including electronic components and semiconductor packaging, under the Production Linked Incentive Scheme (PLI) for large-scale electronics manufacturing reached Rs 5.14 lakh crore till June 2024, Parliament was informed on Friday. Minister of State for Electronics and IT Jitin Prasada, in a written reply to the Rajya Sabha, said that to boost domestic manufacturing and attract investment in mobile phones value chain, including electronic components and semiconductor packaging, Production Linked Incentive Scheme (PLI) for large-scale electronics manufacturing was notified on April 1, 2020. "Till June 30, 2024, incremental investment of Rs 8,390 crores had been made under the PLI scheme. This has led to production of Rs 5,14,960 crores till June 30, 2024," Prasada said. Apple vendors Foxconn, Wistron, Samsung, Pegatron etc qualified for incentives under the scheme. Prasad said the Scheme for Promotion of Manufacturing of Electronic Components and ...

Apple's PLI promise bears fruit: iPhone exports in Q1 hit a new milestone

Export of iPhone in touching distance of target ahead of date

Mobile makers cumulatively invest Rs 8,282 cr under PLI scheme till June

Mobile phone and specified components makers under the PLI scheme for large scale electronics manufacturing have cumulatively invested Rs 8,282 crore till June 2024, Parliament was informed on Wednesday. Minister of State for Electronics and IT Jitin Prasada in a written reply to Lok Sabha said that a total of 32 companies were approved with committed investment of Rs 11,324 crore and a projected production target of Rs 10.7 lakh crore under the PLI (Production Linked Incentive) scheme for Large Scale Electronics Manufacturing. He said that out of 32 companies approved under the scheme for large scale electronics manufacturing, seven are Greenfield companies and 25 are Brownfield companies. "Of the cumulative investment of INR 8,282 crore made under the scheme till June 30, 2024, the cumulative investment made by Greenfield companies is Rs 3,136 crore and the cumulative investment made by Brownfield companies is Rs 5,146 crore," Prasada said. The companies under the scheme had made

Ripe for picking: Apple's India iPhone assembly decision bears fruit

The decision to assemble in India paid off even though it was focused on exports in the beginning. In FY19, only 10% of Apple's phones sold in India were assembled in India, a figure that has now grow

Budget 2024 Updates: Finance Minister Nirmala Sitharaman to present the Union Budget on Tuesday

Union Budget 2024: As Finance Minister Nirmala Sitharaman presents the Union Budget on Tuesday, markets expect tax cuts, infra spending, and a boost to rural demand. Stay with us for all updates