Page 7 - Pli Scheme

Cabinet approves second tranche of solar PLI worth Rs 19,500 crore

The corpus was increased to Rs 19,500 crore under the Union Budget 2022-23 to accommodate the large number of bids

Govt takes PLIs back to the drawing board amid critical challenges

With this signature manufacturing scheme facing critical challenges, the government is reworking parts of the programme in consultation with companies

Govt tweaks Rs 76k-cr semiconductor, display fab scheme to woo global firms

The Cabinet on Wednesday approved modifications in the scheme for semiconductors and display manufacturing ecosystem, with uniform fiscal support of 50 per cent of project cost for all technology nodes under the ambitious programme. Announcing the decision of the Cabinet, Union Minister Anurag Thakur said the modifications will strengthen the semiconductor scheme, thus raising capacities within the country, encouraging investments, and creating employment opportunities. "Under modified programme, a uniform fiscal support of 50 per cent of project cost shall be provided across all technology nodes for setting up of Semiconductor Fabs," an official release said. Given the niche technology and nature of compound semiconductors and advanced packaging, the modified programme shall provide fiscal support of 50 per cent of capital expenditure for setting up of compound semiconductors / silicon photonics / sensors / discrete semiconductors fabs. "The programme has attracted many global ...

Rs 19,500 cr PLI-II for solar equipment to save Rs 1.4-trn forex: R K Singh

Union Power Minister R K Singh on Wednesday exuded confidence that the second version of production linked incentive (PLI-II) scheme for solar manufacturing worth Rs 19,500 crore, will help save close to Rs 1.4 lakh crore forex every year. The Union Cabinet, chaired by Prime Minister, Narendra Modi, approved the implementation of the Production Linked Incentive Scheme (Tranche II) on National programme on High-Efficiency Solar PV Modules', with an outlay of Rs 19,500 crore for achieving a manufacturing capacity of 65 Giga Watt (GW) scale in High-Efficiency Solar PV Modules. The government has expanded the scope under PLI-II as the domestic manufacturing capacity will also boost exports. The PLI-I for solar modules was worth Rs 4,500 crore, which was brought with intent to meet domestic requirement mainly as India has been importing solar equipment. "This (PLI-II for solar module) will lead to a saving of Rs 1.40 lakh crore saving because of domestic manufacturing. And it will also .

Govt approves Rs 19,500-cr PLI scheme for manufacturing solar PV modules

The Cabinet on Wednesday approved a Rs 19,500-crore production linked incentive (PLI) scheme on 'national programme on high efficiency solar PV modules' with an aim to attract Rs 94,000 crore investment in the sector. One of the the benefits expected from the PLI scheme is that about 65,000 MW per annum manufacturing capacity of fully and partially integrated solar PV modules would be installed. Giving details about the Cabinet decision, information and broadcasting minister Anurag Thakur said that about 2 lakh direct jobs would be created in the sector. The national programme aims to build an ecosystem for manufacturing of high efficiency solar PV modules in India and reduce import dependence in the area of renewable energy. The initiative is expected to reduce import substitution of about Rs 1.37 lakh crore. Solar PV manufacturers will be selected through a transparent selection process. PLI will be disbursed for 5 years after commissioning of solar PV manufacturing plants and s

Govt working on PLI schemes for more products to boost manufacturing: Goyal

The government had rolled out PLI schemes for 15 key sectors, including technology, textile, automobile, pharmaceutical drugs, speciality steel, electronics, among others

35 firms submit applications under PLI scheme for specialty Steel: Scindia

As many as 35 companies have submitted 79 applications under the PLI scheme for specialty steel, Union Minister of Steel Jyotiraditya Scindia said on Tuesday. The minister shared the information while speaking at the 'National Management Convention' organised by the All India Management Association (AIMA) in the national capital. "We closed all the applications two days ago and we received close to 79 applications from 35 companies. Looking at putting in place a capacity close to 28 million tonne per annum (MTPA) of new specialty steel capacity which will result in the creation of 70,000 jobs," he said. The applicants include major steel players like Tata Steel, JSW Steel, JSPL, AMNS India and SAIL, a senior steel ministry official told PTI. However, there was no proposal from any foreign entity. After shortlisting the proposals, the government will come out with a final list which would take around 35-40 days, the official said. September 15 was the last date for manufacturers to

Will NITI Aayog-like bodies come up in the states and will they deliver?

Experts believe that merely replacing the state boards with Aayog-like bodies will not make them institutions which would be looked at seriously by the governments

Govt receives 75 applications under PLI scheme for specialty steel

The government has received around 75 applications from domestic players under the PLI Scheme for specialty steel, according to an official. Applicants include all major steel players like Tata Steel, JSW Steel, JSPL, AMNS India and SAIL, a senior steel ministry official said. "A significant number of applications have been received. There around 75 applications," the official said. However, no proposal has been received from any foreign entity, according to the official. After shortlisting the proposals, the government will come out with a final list which would take around 35-40 days, the official said. The government had set the final deadline on September 15 after several extensions for receiving proposals from manufacturers for benefits under the PLI (Production-Linked Incentive) scheme for speciality steel. The Union Cabinet in July last year approved a Rs 6,322-crore PLI scheme to boost the production of speciality steel in India. The move is expected to attract an additi

'Make in India' smartphones share reach 16% in Q1 with 44 mn units: Report

The Indian government's push with multiple PLI schemes has been showing a positive impact and "we saw increased local manufacturing share in product segments like smartwatch, TWS, neckband and tablet

Toy sector pitches for PLI scheme, export council to promote growth

Extending the PLI scheme to the toy sector and setting up a separate export promotion council would propel the sector by creating jobs and boosting exports, industry experts said. Currently, the Production Linked Incentive (PLI) scheme covers 14 sectors like pharma and white goods, and aims to boost domestic manufacturing and exports. Little Genius Toys Pvt Ltd CEO Naresh Kumar Gautam said although support measures announced by the government are helping the industry, the PLI scheme and a council would give further impetus as it holds huge potential for creation of jobs. The government has significantly increased import duty from 20 per cent to 60 per cent, introduced quality norms and mandated sample testing of each consignment and no permission for sale unless the quality testing is successful. At present, the toy industry is going through its golden period. The support measures are helping in bigger ways. But I would like to request the government to include the toy sector in th

Existing infra for testing medical devices inadequate: Parliamentary panel

The report presented in the Parliament by a standing committee stated that along with more testing labs, the country needs a robust IT-enabled and feedback-driven post-sales surveillance system

Centre holds Samsung's incentive of Rs 900 cr under PLI scheme for FY21

The central government has held the disbursement of incentive amount under the PLI scheme to Samsung Electronics for FY21 after some discrepancies were found in the invoices

Indian semiconductor industry may benefit from the proposed US CHIPS Act

US Chips act has a total outlay of $53 billion, five times India's PLI scheme for semiconductors which amounts to $10 billion

Centre considering 100% WFH across all SEZ units, says Piyush Goyal

The move is expected to create employment opportunities in small cities and increase the export of services

Fresh salvo at GDP for not capturing ground manufacturing activities

While most criticisms of the data related to GDP are on overestimating economic activities on ground, the latest one in fact censures it for underestimating the manufacturing sector in recent times

Discussion underway to extend PLI scheme to more sectors: Official

There are demands to extend production linked incentive (PLI) scheme to more sectors such as certain electronic components, pharma and medical devices, and discussions are underway in the government on these proposals, a senior government official said. Discussions are also going on to bring PLI scheme for toys, furniture, bicycles and containers. The objective of the scheme is to make domestic manufacturing globally competitive, create global champions in manufacturing, boost exports and create jobs. The government last year rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, textiles, advanced chemistry cell (ACC) and speciality steel. "So, from Rs 1.97 lakh crore, there are savings from some sectors. So against those savings, things are being planned. Proposals are under consideration," the official said. Demand for including sectors like certain electronic components, toys, furniture,

Top headlines: Indian forex reserves, Kharif rice production, and more

Foreign exchange reserves declining to government making first disbursement under PLI scheme, here are the top headlines of the day

Govt makes first disbursement under PLI scheme, Delhi firm to get Rs 52 cr

Dixon Technologies getting money after international companies expressed concern about scheme due to delays in disbursement

Panel approves 32 beneficiaries under PLI for large-scale electronics mfg

An empowered committee headed by NITI Aayog CEO on Friday approved 32 beneficiaries under the production linked incentive scheme for large scale electronics manufacturing, including 10 for mobile manufacturing, the Aayog said. The Aayog in a tweet said the Parameswaran Iyer-headed committee approved the first incentive for mobile manufacturing under the PLI scheme for large scale electronics manufacturing. This is the first-ever disbursement under any PLI scheme, it added. "32 beneficiaries were approved under the #PLIscheme for Large-Scale Electronics Manufacturing, of which 10 (5 global and 5 domestic companies) were approved for mobile manufacturing," NITI Aayog said. The government has already rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, advance chemistry cell and speciality steel. The objective of the scheme is to make domestic manufacturing globally competiti