Page 9 - Pli Scheme

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

PLI for auto sector sees investment proposals worth Rs 67K cr: Eco Survey

The production linked incentive scheme (PLI) for automobile and auto components has so far attracted a proposed investment of Rs 67,690 crore, said Economic Survey 2023-24 tabled in Parliament on Monday. A capital of Rs 14,043 crore has been invested till end-March 2024, it stated. Applicants have proposed employment generation of 1.48 lakh, against which 28,884 of jobs have been generated till March 31, 2024, the Economic Surevy 2023-24 stated. So far 85 applicants have got approval under the scheme, it noted. The PLI scheme for automobile and auto components has a budgetary outlay of Rs 25,938 crore from FY23 to FY27. The scheme has been sub-divided into champion OEM incentive scheme and component champion incentive scheme. Besides, the government has approved the National Programme on Advanced Chemistry Cell (ACC) Battery Storage in May 2021 with a budgetary outlay of Rs 18,100 crore. The growth in the value of domestic production and consumption of automotive parts moderate

USIBC recommends PLI for media, entertainment industry in upcoming Budget

A top India-centric American trade body on Sunday recommended that the Indian government should introduce production-linked incentives for the media and entertainment industry in the upcoming Budget. The trade body also called for steps to level the playing field between Indian and foreign companies. Ahead of the annual Budget presentation by Union Finance Minister Nirmala Sitharaman on July 23, the US India Business Council (USIBC) pitched for liberalising the satellite communications industry and taking measures to create a level playing field for Indian and foreign financial services firms and reduce friction in the flow of capital between the two countries. Proposing eliminating value restrictions on courier exports exceeding Rs 5 lakh to streamline processes and foster greater efficiency, USIBC, in its memorandum to the Union Finance Ministry, suggested removing restrictions on perishable goods shipped via courier to ensure swift clearance, supporting perishable trade dynamics

Rs 35K cr electronic parts PLI plan afoot to give sub-assemblies a leg up

Under the scheme, identified sub-assemblies include camera modules, display assemblies, mechanical parts, battery packs, battery chargers, and vibrators

Telecom minister Jyotiraditya Scindia, telco chiefs discuss sector road map

Jio's Akash Ambani, Airtel's Sunil Mittal, and Vi CEO Akshaya Moondra attend meet

From 68k crore, trade deficit in telecom has dropped to 4k cr: Scindia

Telecom gear sales crossed Rs 50,000 crore, exports at Rs. 10,500 under PLI, DoT said

Telecom equipment production sales cross Rs 50,000 crore under PLI scheme

Within three years, the Telecom PLI scheme has attracted investments of Rs 3,400 crore, with telecom equipment production exceeding Rs 50,000 crore, govt sources reveal

PLI scheme for white goods: Application window to be open for third time

The first round of application was invited in 2021, followed by the second round a year later as the entire allocated fund was not utilised

Govt to reopen application window for PLI scheme for ACs, LED lights

The government on Monday said it will reopen the application window for the PLI scheme for white goods, including ACs and LED lights, for 90 days from July 15. The industry has an appetite to invest more under the production linked incentive (PLI) scheme, the commerce and industry ministry said. The application window shall remain open from July 15 to October 12. No application shall be accepted after the closure of the application window. In order to avoid any discrimination, both new applicants as well as existing beneficiaries of the scheme who propose to invest more by way of switching over to higher target segment, would be eligible to apply. So far, 66 applicants with committed investment of Rs 6,962 crore have been selected as beneficiaries under the PLI scheme. Under the guidelines of the scheme, applicants shall only be eligible for incentives for the remainder of the scheme's tenure. "The applicant approved in the proposed third round would be eligible for PLI for maxim

Govt to extend easy visa rules to all PLI sector companies: DPIIT secretary

The PLI scheme covers 14 sectors, including mobile phones, drones, white goods, telecommunications, textiles, automobiles, specialty steel, and pharmaceutical drugs, among others

Budget wish list: Component PLI top demand of electronics companies

Manufacturers aim at attracting global value chains, scaling up production

Apple exceeds India's PLI scheme targets, lags in value addition

Of the six scheme parameters, Apple vendors outperform on five

Not just China, all PLI-led visas being fast-tracked: Piyush Goyal

On 100-day agenda, Goyal said the commerce department and DPIIT were still working on it and it was a "work in progress"

BJP's women's wing calls for probe into Foxconn India hiring practices

Foxconn hiring agents and HR sources cited family duties, pregnancy and higher absenteeism as reasons why Foxconn did not hire married women at the plant

India to make Ozempic-like drugs for diabetes, obesity under PLI by 2026

GLP-1RA works by activating GLP-1 receptors in the pancreas, which leads to enhanced insulin release and reduced glucagon release responses

Mulling PLI scheme for garments sector: Textiles minister Giriraj Singh

Textiles Minister Giriraj Singh on Tuesday said the government has approved over Rs 10,000 crore production linked incentive (PLI) scheme for textiles and now considering to extend it to the garments sector with a view to boosting domestic manufacturing and exports. Addressing the India International Garment Fair (IIGF) here, Singh said that huge opportunities are there to increase exports and the industry should target USD 50 billion worth of shipments in the coming years. In 2021, the government approved the PLI scheme for textiles with an approved outlay of Rs 10,683 crore over a five year period to promote production of MMF (man-made fibre) Apparel, MMF Fabrics and Products of Technical Textiles in the country to enable textiles industry to achieve size and scale and to become competitive. "We are considering to cover your (garments) sector also (under the scheme)," Singh said. He added that the market size of the Indian textiles industry is about USD 165 billion and "we have t

Budget Watch: From toys to footwear, new PLI schemes knocking on the door

Amid demands from industry bodies and govt departments, the upcoming Union Budget 2024 may see PLI schemes introduced for even more items