The scheme will provide additional incentives for manufacturers and original equipment manufacturers (OEMs) who incorporate Indian-designed IP into their systems and products
The Central government will soon launch an information technology server and IT hardware production linked incentive (PLI) scheme, and also offer additional incentives for manufacturers that incorporate Indian-designed intellectual property into their products, Union Minister of State for Electronics and IT Rajeev Chandrasekhar said on Tuesday. Virtually addressing the VLSI Design Conference 2023 that began here today, Chandrasekhar said the government has announced Future Design Programme, which invests USD 200 million in startups that will design or co-design IP, tools or devices for the next generation of applications in India. "By 2024, we believe India would have stepped into the semiconductor manufacturing space and catalysed a more domestic design and innovation ecosystem where we are encouraging startups to work with the leading global majors to develop IP, to develop devices either co-owned or owned for which the government has announced Future Design Programme," he said. "
These units have an installed capacity of 33,895 tonnes
The minister was speaking a day after the Union Cabinet approved an initial outlay of Rs 19,744 crore for the National Green Hydrogen Mission
The proposal to enhance the outlay has already been sent by the IT ministry to finance and other ministries
The government on Thursday said the food processing industry has made an investment of Rs 4,900 crore under the production-linked incentive (PLI) scheme so far. The PLI scheme for the food processing industry, with an outlay of Rs 10,900 crore, was approved on March 2021. It is to be implemented for a period of seven years till 2026-27. "Under the PLI scheme for food processing industry, a total of 182 applications have been approved under different categories," an official statement said. This includes 30 applications (8 large entities and 22 SMEs) under the PLI scheme for millets-based products, it said. "As per the data being reported by the PLI scheme beneficiaries, investment of about Rs 4900 crores has been made under the scheme," the statement said. Incentives amounting to Rs 800 crore are likely to be disbursed in the current financial year. Sales-based incentive of Rs 107.3 crore has been disbursed so far, it added. According to the food ministry, stakeholder consultatio
Toy imports have come down by 70% in the last three years, while export is up by 60%. Govt is now mulling a PLI scheme to give the sector a fillip. Will the scheme help the toy manufacturing sector?
PLI Scheme: The move, which may attract global giants like Apple to enhance production in the country, is being discussed to develop a complete ecosystem for electronic manufacturing in India
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The Rs 10,683-crore production-linked incentive scheme for India's textiles sector attracted investments of Rs 1,536 crore as approval letters were issued to 56 applicants who met the eligibility criteria, the government said on Monday. Applications under the PLI Scheme for textiles were received through a web portal from January 1, 2022, to February 28, 2022. The Centre launched the PLI Scheme with an approved outlay of Rs 10,683 crore to promote the production of MMF apparel, MMF fabrics and Products of Technical Textiles in the country to enable the textiles industry to achieve size and scale and to become competitive. "Selection Committee chaired by Secretary (Textiles) has selected 64 applicants under the scheme. 56 applicants have completed the mandatory criteria for the formation of a new company and approval letters have been issued to them. Investment to the tune of Rs 1,536 crore has been made so far," an official statement said. The ministry said that domestic cotton ...
The PLI for large-scale electronics manufacturing sector launched with an aim to make India a competitive destination for electronics manufacturing
Jindal Steel and Power Limited (JSPL) will spend Rs 7,930 crore under the PLI scheme for specialty steel to manufacture eight types of high-end alloy in the country, its Managing Director Bimlendra Jha said. JSPL is one of the qualifiers of the government's production linked incentive (PLI) scheme which aims to increase the output of value-added steel using new age technologies in the domestic steel sector. On December 9, the government announced the selection of 67 entries with an investment potential of Rs 42,500 crore under the scheme. The proposed investments are expected to generate 70,000 job opportunities and add 26 million tonnes of speciality steel capacity in the country. When asked about the share of JSPL in the said investment amount, Jha replied, "Our commitment to the PLI scheme (for specialty steel) will be around Rs 7,930 crore." JSPL through subsidiary company Jindal Steel Odisha has submitted the highest number of entries to manufacture eight types of specialty st
Scheme is skewed towards assembly-based operations for attaining peak revenue targets, but they make the least capex investment
The government's PLI scheme, introduced in 2021, had an outlay of around Rs 2 trillion for 13 sectors
Citing the case of the FTA negotiations with the United Kingdom, Goyal said the country had a 9 per cent duty on different items and if that goes away, it will benefit the sector, he said
The central government is expected to finalise a production linked incentive (PLI) scheme for garments, madeups and home textiles early next year with an aim to promote small and medium units, an official said on Wednesday. The government has already announced a PLI scheme for man-made fibre garments and technical textiles. Now there are talks going on for the second edition of the scheme for the sector. The official said that discussions are on for PLI 2.0 where investment thresholds could be lower than the previous one for technical textiles and man-made fibre. "We encouraged capital and machinery in the first edition of PLI, but this time we are looking at small and medium entities," the official added. In the first round, 32 firms have begun investments worth Rs 1,500 crore. The textiles ministry had approved 64 applications under the Rs 19,798-crore scheme. PLI 2.0 for the textile sector is under consideremation as the textiles ministry has an unutilised budget.
Qualifiers of PLI scheme for specialty steel will soon sign agreements with the steel ministry to take their investment proposals forward. The selected players have already been sent letter of approvals post selection in the scheme, a senior steel ministry official said. On Friday, the government announced selection of 67 entries with an investment potential of Rs 42,500 crore under the scheme. The proposed investments are expected to generate 70,000 job opportunities and add 26 million tonnes of speciality steel capacity in the country. When asked about the next course of action, the official replied, "Now the selected companies will sign a memorandum of understanding (MoU) soon with the ministry of steel to take their commitments forward." Except for the divestment-bound RINL, all major steel players along with a few others participated in the scheme, the official said, adding there was no application received from any international player. As many as 35 companies had submitted
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iPhone exports from India cross $0.5 bn in November when tech giant's production in China suffered
The organisation has projected that components and sub-assemblies could provide a $100-billion export opportunity in the next five years