Page 3 - Pli Scheme

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

Drone use not limited to pesticide spraying in agriculture sector: Govt

Union minister of civil aviation on Tuesday said the applicability of drone in the agriculture sector is beyond pesticide spraying and has tremendous scope in organic and natural farming as well. Drone industry in India has grown 6-8 times in the last one-and-a-half years. The drone infrastructure set up in the country is "extremely robust" and an Indian case study of drones as pioneer in agriculture will be exhibited in the ongoing meeting of G20 agriculture working group. India's aim is to become a global hub for drones by 2030, for which an industry friendly policy including the Production Linked Incentive Scheme (PLI) is in place, he added. Addressing the media on the sidelines of the first G-20 Agriculture Deputies Meeting here, the Union minister said: "Don't look at drones through narrow lines. The versatility and diversity of the application of using drones as service is vast." The use of drones in agriculture should not be limited to pesticide spraying. It can be used in .

Boosting pharma research

Govt should not solely depend on monetary incentives

Centre plans to roll out research-linked incentive scheme for pharma sector

In the Union Budget 2023-24, Finance Minister Nirmala Sitharaman had hinted at fostering a research-driven climate in the pharma sector in India

Top headlines: Adani group ratings under surveillance, Rs 8,083 cr for PLIs

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Rs 8,083 crore for PLIs in Budget: The lion's share goes to electronics

As much as Rs 4499 core has been earmarked for large-scale manufacturing of electronics, including mobile devices

Electronics manufacturing, auto get best of Budget spending on PLI scheme

The bulk of the money in FY23-24 PLI schemes--of Rs 4,499 crore-- is for large-scale electronics manufacturing

Budget 2023: Many PLI schemes are in the pipeline, says Piyush Goyal

As and when other PLI schemes get approved, the cabinet is empowered to approve it

Union Budget 2023 augments capex without sacrificing fiscal consolidation

The quality of the fiscal deficit is also set to improve in FY24, with capex accounting for a much larger share of the same vis-a-vis FY23

PLI scheme to make Indian firms competitive, attract investment: Survey

Benefits of the production linked incentive (PLI) scheme for as many as 14 sectors will help make domestic manufacturers globally competitive, attract investment in cutting-edge technology and make India an integral part of the global value chain, the Economic Survey said on Tuesday. The scheme will benefit the MSME ecosystem in the country, it said. It informed that as of December 31, 2022, 717 applications have been approved under 14 schemes and over 100 MSMEs are among the PLI beneficiaries in sectors such as bulk drugs, medical devices, telecom, white goods and food processing. As per reports of different ministries which are implementing their schemes, about Rs 47,500 crore of actual investment has been made; production/ sales of Rs 3.85 lakh crore of eligible products and employment generation of around 3 lakh has been reported. The government had announced an outlay of Rs 1.97 lakh crore for the Production-Linked Incentive (PLI) schemes for different key sectors, to create .

Top headlines: India,China to drive 2023 growth, PLI scheme to be extended

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Road map for India as an economic superpower

This Budget will also continue the weighty task of sustaining social welfare schemes

Budget expectation: PLI scheme might be extended to other industries

Currently, 384 eligible companies, global and homegrown, in 14 industries are eligible for incentives

Top Headlines: Govt payout under PLI, India-made 4G, 5G tech stacks & more

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Budget 2023-24: Govt set to pay out Rs 4K cr under PLI by March end

The Budget may extend the PLI scheme to six-seven more sectors such as toys, textiles, electronics, bicycle components, leather, and furniture

Budget 2023: Centre likely to announce PLI scheme for more sectors

The government is likely to extend fiscal incentives for production of toys, bicycles and leather and footwear in the forthcoming budget as it looks to expand production linked incentive (PLI) scheme

Union Budget 2023: MSME sector seeks access to credit at affordable rates

PLI schemes, quick access to funding, and expansion of exports are some of the key areas that the sector is looking forward to

Govt may increase allocation for PLI schemes in Budget to boost exports

Under the PLI scheme, eligible players receive incentives for five years if they achieve their investment and production value target for each year

Business leaders see ext of PLI scheme to other sectors: Deloitte

A vast majority of the business leaders believe that the Production Linked Incentive (PLI) schemes have been beneficial and expect an extension to other sectors in the coming years, a Deloitte Survey said on Friday. An overwhelming number of survey respondents hope the budget will fuel growth across industries by building strong domestic demand and focussing on capital expenditure and believe that it would define the 'Amrit Kaal'. "Critical to this growth will be the pace of capital expenditure, infrastructure development, and the need to boost infrastructure financing through private partnership. 60 per cent of respondents suggested raising funds through Indian Government Bonds," the survey said. The survey aimed to analyse the industry expectations from the upcoming budget, from the standpoint of economic growth, trade agreements and exports. A total of 181 responses were collated from the survey, across 10 industries. More than 70 per cent of respondents agree that various PLI .

Steady and cautious: What India's conglomerates are doing for capex push

Companies are reluctant to invest in new factories and plants when existing capacity is not fully utilised