Page 2 - Pli Scheme

Amneal Pharma to invest Rs 1,600 crore in Gujarat to make GLP-1 drugs

Globally, there is a shortage of this new class of diabetes and obesity treatment

India will take a multi-pronged approach to boost exports: Piyush Goyal

Our national interest will always be paramount. We'll calibrate and balance our policies based on needs of the country, says Piyush Goyal

Govt asks white goods industry to apply for mfg sops in large numbers

The department for promotion of industry and internal trade (DPIIT) on Monday asked white goods manufacturers to participate in large numbers to avail fiscal benefits under the production linked incentive scheme for the sector as the response has been muted so far. Additional Secretary in the DPIIT Rajeev Singh Thakur said that the department has again reopened the application window for the PLI (production linked incentive) scheme for white goods (ACs and LED lights). The application window is open from July 15 to October 12. "In the PLI in white goods scheme, somehow the response has been muted. ...Probably due to various reasons not sufficient response has come. So I request (the industry) to have a look and probably this time, you can consider (applying)," Thakur said at the CII Consumer Electronics and Durables Summit 2024 here. So far, 66 applicants with committed investment of Rs 6,962 crore have been selected as beneficiaries under the PLI scheme. The Union Cabinet had gi

Investments in sectors under PLI schemes may hit Rs 2 trn in coming years

The 14 sectors covered under the production linked incentive (PLI) schemes have witnessed investments of Rs 1.46 lakh crore till August and the capital infusion is expected to reach Rs 2 lakh crore in the coming years, the commerce and industry ministry said on Sunday. Commerce and Industry Minister Piyush Goyal has held detailed discussions with companies that are getting fiscal benefits under the schemes to seek inputs and feedback. The minister engaged with 140 companies out of the 1,300 manufacturing units across 14 sectors, which have been the beneficiaries of the scheme. "Overall achievement of PLI schemes was also discussed during the meeting. Actual investment of Rs 1.46 lakh crore has been realised (till August 2024) and is likely to reach Rs 2 lakh crore in the next year or so," the ministry said in a statement. This has resulted in production/sales worth Rs 12.50 lakh crore and employment generation of around 9.5 lakh (direct and indirect), which is expected to reach 12

Goyal holds discussions with 140 firms getting production-linked incentives

Commerce and Industry Minister Piyush Goyal on Sunday held a detailed discussions with companies that are getting fiscal benefits under the production linked incentive (PLI) scheme. The minister engaged with 140 companies out of the 1,300 manufacturing units across 14 sectors, which have been the beneficiaries of the scheme. "We had estimated that in the 14 sectors, about Rs 1.46 lakh crore would be invested...Our estimate is that we could look at an investment of upward of Rs 2 lakh crores being seeded through the production linked incentive scheme (throughout the scheme period)," Goyal told reporters here after the meeting. At the job front, he added that originally it was estimated about 8.5 lakh jobs will be created under the PLI scheme, but looking at the numbers that some of them are saying, "we could easily look at about 12 lakh (jobs)". "It was also our expectation that we'll see additional production of about Rs 11 lakh crore. But hearing some of the numbers today, my own

Govt to launch another PLI scheme for speciality steel, says steel secy

The government is working on the another round of the PLI scheme for speciality steel as the response for the first round of the initiative did not meet expectations, according to Steel Secretary Sandeep Poundrik. The top ministry official made the remarks at CII Steel Summit 2024 in the national capital on Friday. In his address, Poundrik said speciality steel is still one area where more is needed to be done. The government brought a PLI to incentivise specialities steel but the offtake was not as expected. "So we are bringing another round of PLI so that we can get more interest in the speciality steel business," he said. Later speaking to PTI, the secretary said the government had launched Rs 6,400 crore PLI Scheme for speciality steel, out of that only Rs 2,600 crore could be allocated. Speciality steel is high grades used in sectors like defence, automobile, and electrical among others.

10-12 companies to get first set of incentives for textiles PLI scheme

Decision comes after panel flagged funding 'shortfall' in 3 out of 14 sectors

India to add 50 new pharma greenfield plants under PLI scheme: Pharma Secy

He stated that the Indian meditech industry also exported more than the country imported in the surgical and consumable space

PLI scheme: 50 units to be set up for pharma, medical device manufacturing

As many as 50 new greenfield plants are in the pipeline to come up in the next two years under the Production-linked Incentive (PLI) scheme for pharma and medical devices manufacturing, a senior government official said on Thursday. Speaking at the Annual Pharma Summit organised by industry body Assocham, Department of Pharmaceuticals Secretary Arunish Chawla said as the 'Make in India' initiative completes ten years, already 50 plants have been set up under the PLI schemes for the two sectors. "The PLI schemes in the pharma and meditech sectors have been a roaring success, 50 brand new greenfield pharma and medical device manufacturing plants have already become operational, and 50 more are in the pipeline," he said. When asked on the sidelines of the summit when the 50 new greenfield plants will come up, he said, "Everything will be completed in the next two years." Elaborating on the success of the PLI schemes, Chawla said, "In the last two years alone, the PLI plants have ...

PLI investment in mobiles, production surpasses target: IT secretary

Investment in mobile phone manufacturing under the PLI scheme as well as production has surpassed the targets, Electronics and IT Secretary S Krishnan said on Wednesday. Addressing reporters on the completion of 10 years of Make In India initiative, the official said the overall production of electronics in India has increased to Rs 9.52 lakh crore with an annual compounded growth rate of 17.4 per cent from Rs 1.9 lakh crore in 2014-15, he said. "If you look at what the PLI scheme has done in the mobile sector, the overall production we have reached is far in excess of the target. We have reached Rs 6.61 lakh crore is the total value of production, well above the target that has been set. The overall investment has been Rs 9,100 crore, which is again well above the target," Krishnan said. The government had set a target of Rs 7,000 crore cumulative investment during the five-year scheme period and Rs 5,488 crore till 2023-24, according to official data. The mobile PLI scheme set a

Meity may not change value addition target for mobiles under PLI scheme

A majority of global vendors of mobile phones and electronics are located in China. Most of them are Chinese companies

MHI all set to auction final 10 gigawatt-hour of the ACC PLI scheme

In June 2021, MHI launched the Rs 18,100 crore ACC PLI scheme with a total capacity of 50 GWh

Received proposals worth Rs 75k cr under auto PLI scheme: Kumaraswamy

The government has received investment proposals worth around Rs 75,000 crore under the auto PLI scheme of which close to Rs 18,000 crore has already been invested, Union heavy industries minister H D Kumaraswamy said on Tuesday. Speaking at the 64th Annual SIAM convention here, the minister said the scheme has helped create around 30,000 jobs in the country. "Since its launch, the scheme (Auto PLI) has been instrumental in attracting Rs 74,850 crore in proposed investments. Of this Rs 17,896 crore has been actually invested by March 2024," Kumaraswamy said. He noted that in order to ensure continuous growth in electric mobility, the ministry is now focusing on charging infrastructure. "While developing the charging infrastructure, we are conscious that integrating this infrastructure with renewable energy sources is essential for maximising the environmental benefits of electric mobility," the minister said. He noted that the government and the industry need to make dedicated eff

HP to sign pact with Dixon's Padget to make PCs in India under PLI 2.0

PC maker HP India is set to sign an agreement with electronics contract manufacturer Dixon Technologies' subsidiary Padget Electronics to make the company's notebooks, desktops and all-in-one PCs under the PLI 2.0 scheme in India, a joint statement said on Monday. The production will take place at a new facility of Padget Electronics being established in Chennai. "Padget Electronics Private Limited intends to enter into an MOU with HP India Sales Private Limited to carry out manufacturing of notebooks, desktops, and all-in-one PCs under PLI 2.0, subject to signing of definitive agreements in due course," the statement said. Ipsita Dasgupta, HP managing director for the India market, said the announcement reaffirms the company's commitment and pride to participate in the government's Make in India initiative. "Through this partnership, we look forward to offering our customers in India an enhanced portfolio of domestically manufactured products that combine HP's cutting-edge technol

Apple scouts new deals to push India value-add, in talks with key players

In talks for fresh collaborations with Flextronics, Jabil, Aequs, Tata firms

IESA hails govt's move to ease visa application process for PLI-businesses

Industry body India Energy Storage Alliance on Friday hailed the government's move to create a portal for smoother business visa applications for foreign experts engaged by Indian companies under production-linked incentive scheme and associated industries. Multiple-entry business visa (non-extendable) will be facilitated for six months to foreign subject matter specialists/engineers/ technical people being engaged by Indian companies under the PLI scheme or PLIassociated industries by the approval of the respective line ministry, a statement by India Energy Storage Alliance (IESA) stated. According to the statement, this will apply to personnel required for installation and commissioning, quality check & essential maintenance, production, IT & DRP ramp-up, training, supply chain development for empanelling vendors, plant design & bring-up, and senior management & executive. IESA president Debi Prasad Dash welcomed the government's move to support in providing business

PLI scheme boosts AC industry; localisation doubles in two years

Cost disadvantage for Indian manufacturers competing with other countries falls to 12% from 18% earlier

Meity plans jobs push in proposed electronic components PLI scheme

The component scheme aims at adding value to electronics finished products from mobile devices, laptops, PCs and servers, among others

Confident of doubling sales by 2025: Danfoss India Prez Ravichandran

Danfoss India, a leader in heating, ventilation and air-conditioning, is witnessing robust growth in the domestic market and is confident of doubling sales by 2025, a top official has said. The subsidiary of the Denmark-headquartered company said the Indian market is the fastest-growing region for the Danfoss Group with strong double digit growth in H1 driven by increasing opportunities in energy efficiency and electrification. Danfoss Group's sales amounted to Euro 5 billion and a half-year EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) of EURO 533 million corresponding to an EBITDA margin of 10.6 per cent, as against 12.4 per cent last year. Driven by the rapid expansion of data centres and commercial buildings, Danfoss India is experiencing robust growth. The government's strong push towards de-carbonisation, coupled with initiatives like the Production-Linked Incentive (PLI) schemes, is further fuelling the growth momentum, Danfoss India said in a compan

EMPS progress: Achieves 60% of revised target, supporting 334,260 vehicles

Government sources credit the turnaround to the onboarding of new players and the addition of more models by existing companies, which has driven increased disbursement