Page 2 - Pli Scheme

PHDCCI seeks revival of credit linked subsidy for micro, small units

Industry body PHDCCI has approached the government seeking reintroduction of the Credit Linked Capital Subsidy Scheme to facilitate technology upgradation of micro and small enterprises. The scheme provided an upfront capital subsidy of 15 per cent subject to a maximum amount of Rs 15 lakh on institutional finance availed by the enterprises for induction of well-established and improved technology in the specified 51 sub-sectors/products. It was valid till 2019-20 and was discontinued thereafter. President of PHD Chamber of Commerce and Industry (PHDCCI) Saket Dalmia took up the issue in a letter to Union Minister for Micro Small and Medium Enterprises Narayan Rane last week. "We have been receiving feedback from our MSME members requesting us to take up the issue with the government for revival and reintroduction of the scheme as MSMEs still need this kind of financial support. We, therefore, earnestly request your good self to kindly look into this matter and initiate necessary ..

Samsung eyes expansion, planning to make India smartphone manufacturing hub

The South Korean electronics major plans to invest in setting up smart manufacturing capabilities at its second-largest mobile phone plant in Noida

Top headlines: UBS likely to buy C Suisse, direct tax collection up 15.3%

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Govt planning PLI 2.0 to boost production of specialty steel: Scindia

The government is planning to introduce the second edition of the PLI scheme for specialty steel to boost production of value-added steel in the country, Union Minister of Steel Jyortiraditya Scindia said on Friday. The minister was speaking at the PLI Scheme for Specialty Steel MoU signing event in the national capital. It was attended by the companies selected to invest under the Rs 6,322-crore scheme. "Today is an important day in the history and future of the steel industry. PLI 1.0 is not a full stop, it is the beginning of the journey. Our ministry is already looking at PLI 2.0," he informed the participants of the first edition of PLI for specialty steel. The minister further asked the industry stakeholders to share their suggestions and feedback so the next PLI Scheme for specialty steel can be prepared at the earliest. As many as 27 steel companies signed 57 memorandum of agreements (MoUs) with the Ministry of Steel at the event to produce coated/plated steel products, hig

PLI scheme push: Electronics is India's fastest-growing export

The government has an aggressive target for exports of electronics

Foxconn Technology plant in India to assemble Apple AirPods in India

For Foxconn the $200 million investment in the new factory comes over and above the Rs 1,000 crore it has invested in its unit in Tamil Nadu to make iPhones under the PLI scheme

Lenovo will end FY23 with over 5 mn made-in-India products: MD Katyal

'For smartphones, India became the second largest market in the world around five years ago'

IT hardware manufacturers flag PLI investment clause; cite demand issues

The IT manufacturers have said that they have underutilised capacities that first need to be used up before they can commit to further expansion

Centre likely to discontinue second phase of Fame-II scheme after FY24

Instead of the Fame-II scheme, the benefits may be given through the production-linked incentive (PLI) scheme

Foxconn Technology eyes second chip plant in India, sans govt incentive

First unit, by Vedanta-Foxconn JV, under PLI scheme

Atmanirbhar push: Rs 7,000-cr PLI boost for toys, bicycle components soon

Commerce and Industry Minister Piyush Goyal had said the finance ministry regularly keeps allocating money for PLI

PLI schemes will drive job creation in next two years: TeamLease report

60% of employers in survey express hiring intent; pharma has the highest positive hiring sentiment (68%) followed by white goods (67%) and textile products (62%)

Many employers think PLI schemes will boost job creation in 2 yrs: Report

A significant percentage of employers expect hiring to increase over the next two years due to Production Linked Incentive (PLI) schemes, under which fiscal incentives ar being provided to several sectors to boost domestic manufacturing, says a report. A TeamLease report said the higher positive hiring sentiment is attributed to the pharmaceutical industry (68 per cent) followed by white goods industry (67 per cent) and textile products (62 per cent). Around 60 per cent of employers expect hiring to increase due to PLI schemes over the next two years. The TeamLease PLI Outlook Report has been prepared on the basis of the employers' reaction towards job creation based on the incentives mentioned by the government in the PLI schemes and their projection towards hiring in the next two years. For the report, 344 mid to senior-level, general managers/ talent acquisition managers across 14 cities and 8 industries in India were surveyed. "The PLI schemes are a revolutionary one. It will

Labour-intensive manufacturing segments facing external headwinds

Experts say manufacturing is declining due to a slump in overseas demand and production-linked incentive schemes will take time to yield results

Top headlines: Apple creates new jobs, India's derivate bond trade at risk

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PLI scheme boost: Apple creates 100,000 new direct jobs in 19 months

Foxconn, Pegatron and Wistron have generated 60 per cent of these new jobs

Top headlines: FDI equity inflow contracts, no increment for Flipkart execs

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Govt mulling fresh bid for one vacant slot in advanced cell PLI

The slot was vacated when Hyundai pulled out

India needs Rs 33,750 cr to set up Li-ion cell, battery mfg plants: CEEW

India needs investments to the tune of Rs 33,750 crore to achieve the government PLI target of setting up 50 GWh of lithium-ion cell and battery manufacturing plants, according to a study. The country requires up to 903 GWh of energy storage to decarbonise its mobility and power sectors by 2030, and lithium-ion batteries will meet the majority of this demand, an independent study released on Tuesday by the Council on Energy, Environment and Water (CEEW) said. India needs investments worth up to Rs 33,750 crore (USD 4.5 billion*) to achieve the government PLI target of setting up 50 GWh of lithium-ion cell and battery manufacturing plants, CEEW said in the study report. CEEW, however, noted that at the time of writing the report, the conversion rate was taken as Rs 75 per US dollar. The CEEW study 'How can India indigenise lithium-ion battery manufacturing?' calculates the material and financial requirements and offers a blueprint for the domestic strategy as India's demand is expec

Agreements with 26 cos signed under PLI scheme for specialty steel: Scindia

Agreements have been signed with 26 companies for 54 applications under the production linked incentive (PLI) for specialty steel, Union Steel Minister Jyotiraditya M Scindia said on Thursday. The minister made the remarks at the Global Zinc Summit 2023 in the national capital where he also urged the stakeholders to explore investment opportunities in India. "We had a PLI for speciality steel and that includes steel products with zinc. I report we have awarded 54 applications submitted from close to 26 companies (which will lead to) an investment of...Rs 30,000 crore, a capacity addition of 26 million tonne and employment generation potential of about 25,000 people," Scindia said. India is the fourth largest producer of zinc contributing to six per cent of the world's capacity alone, he said adding 80 per cent of the non-ferrous metal produced in the country is consumed domestically. In India, the government has announced a huge capex of Rs 10 lakh crore for infrastructure which h