News

India`s automotive industry poised to rank number three in world by 2030: Government The government has said that India's automotive industry is poised to rank number three in the world by 2030, with various schemes like the Rs 25,938 crore Production Linked Incentive (PLI) for Automobile and Auto Components supporting the sector's growth. Ministry of Heavy Industries (MHI) considers the PLI-Auto applicants of automotive industry as one of the crucial stakeholders of the scheme. It emphasized that the goal of deep localization and development of Advanced Automotive...
India`s automotive industry poised to rank number three in world by 2030: Government
India`s automotive industry poised to rank number three in world by 2030: Government
Source: Accord Fintech
29/08/2023 12:39:47 PM
Centre extends application window under PLI scheme for IT hardware till August 30 The government on Monday extended the window for receiving applications under the production-linked incentive (PLI) scheme 2.0 for IT Hardware till August 30. The PLI Scheme 2.0 for IT Hardware was notified on May 29 with a budgetary outlay of Rs 17,000 crore. It is expected to result in broadening and deepening of the manufacturing ecosystem by encouraging the localisation of components and sub-assemblies and allowing for a longer duration to develop the supply chain within the country...
Centre extends application window under PLI scheme for IT hardware till August 30
Centre extends application window under PLI scheme for IT hardware till August 30
Source: IANS
31/07/2023 6:03:01 PM
Apple iPhones see 68% growth in India in 2023 1st half, to reach 7% market share Apple iPhone shipments saw a 68 per cent (year-on-year) growth in India in the first half of 2023, driven by the iPhone 14 and iPhone 13 series. In the second quarter (April-June period) alone, there was a strong growth uptick in Apple iPhone shipments and the company registered a stupendous 70 per cent growth in shipments in the country, according o data provided by CyberMedia Research (CMR). Alongside, Apple iPad posted a modest 6 per cent year-over-year growth, driven by consumer nee...
Apple iPhones see 68% growth in India in 2023 1st half, to reach 7% market share
Apple iPhones see 68% growth in India in 2023 1st half, to reach 7% market share
Source: IANS
21/07/2023 4:48:19 PM
Toy industry bats for resolution of GST anomaly, roll-out of PLI scheme With an aim to boost the growth of the sector, the toy industry has recommended that the government should resolve a Goods and Services Tax (GST) anomaly and also suggested immediate roll-out of the production linked incentive (PLI) scheme. Toy Association of India (TAI) Senior Vice-President and Little Genius Toys CEO Naresh Gautam said that besides PLI and GST, the industry has urged for resumption of Credit Linked Capital Subsidy Scheme (CLCSS). He further noted that the PLI is the need...
Toy industry bats for resolution of GST anomaly, roll-out of PLI scheme
Toy industry bats for resolution of GST anomaly, roll-out of PLI scheme
Source: Accord Fintech
11/07/2023 1:23:49 PM
HPE to manufacture high-volume servers worth $1 bn in India Enterprise IT company Hewlett Packard Enterprise (HPE) on Tuesday announced plans to begin manufacturing some of its high-volume servers worth $1 billion in the country. HPE plans to manufacture high-volume servers in the first five years of production from India.  With a rapidly growing electronic manufacturing ecosystem in India, HPE has partnered with domestic manufacturer VVDN Technologies to manufacture HPE’s products from its plant in Manesar in Haryana.  This m...
HPE to manufacture high-volume servers worth $1 bn in India
HPE to manufacture high-volume servers worth $1 bn in India
Source: IANS
4/07/2023 3:29:02 PM
Government gives green signal to National Medical Devices Policy With an aim to increase domestic production and reduce imports of equipment, the Union Cabinet has approved National Medical Devices Policy. Union Health Minister Mansukh Mandaviya said it will promote domestic production of medical devices. Last year, the government had floated an approach paper on the draft national medical devices policy 2022 for consultation. The policy is expected to help the medical devices sector grow from the present $11 billion to $50 billion in the next five year...
Government gives green signal to National Medical Devices Policy
Government gives green signal to National Medical Devices Policy
Source: Accord Fintech
27/04/2023 10:11:00 AM
Indian Inc needs to partner with startups, use solutions in developing products: Nirmala Sitharaman Finance minister Nirmala Sitharaman has asked Indian industry to partner with startups and use their solutions in developing products. She also sought to know from the captains of Indian industry to give 'out of the box' ideas on what could act as catalyst to boost investment. She said ‘I find the pace at which startups and their solutions are moving. Actually the solutions are for you. But you should move as fast as they do or else you will be where you are and they will fin...
Indian Inc needs to partner with startups, use solutions in developing products: Nirmala Sitharaman
Indian Inc needs to partner with startups, use solutions in developing products: Nirmala Sitharaman
Source: Reuters
8/02/2023 9:39:00 AM
FAME subsidy should be there till EV penetration touches 10%: Greaves Electric CEO  The government subsidy for the purchase of electric vehicle (EV) to the vehicle makers should continue till the market reaches an EV penetration of 8-10 per cent, said a top official of Greaves Electric Mobility Private Ltd. "FAME (Faster Adoption and Manufacturing of (Hybrid & Electric Vehicles in India-II) subsidies have played a critical role in encouraging consumers to adopt EVs. It is essential that the subsidy allocation to OEMs (original equipment manufacturers) conti...
FAME subsidy should be there till EV penetration touches 10%: Greaves Electric CEO
FAME subsidy should be there till EV penetration touches 10%: Greaves Electric CEO
Source: IANS
25/01/2023 3:20:24 PM
Government to soon launch new PLI scheme for IT hardware: Rajeev Chandrasekhar Union Minister of State for Electronics and IT Rajeev Chandrasekhar has said government will soon launch an information technology server and IT hardware production linked incentive (PLI) scheme. The scheme will provide additional incentives for manufacturers and original equipment manufacturers (OEMs) who incorporate Indian-designed IP into their systems and products. He further said the government has announced Future Design Programme, which invests $ 200 million in startups that will de...
Government to soon launch new PLI scheme for IT hardware: Rajeev Chandrasekhar
Government to soon launch new PLI scheme for IT hardware: Rajeev Chandrasekhar
Source: Accord Fintech
11/01/2023 10:40:34 AM
India`s startups to attract significant FDI in 2023: DPIIT Secretary Secretary in Department for Promotion of Industry and Internal Trade (DPIIT) Anurag Jain has said that the country's startups will attract significant foreign direct investments (FDI) in 2023 on account of steps being taken by the government to strengthen the ecosystem for budding entrepreneurs. He also said India has the third largest startup ecosystem in the world and the way startups here are performing; soon the country will become a top ecosystem globally. Jain said presently, Ind...
India`s startups to attract significant FDI in 2023: DPIIT Secretary
India`s startups to attract significant FDI in 2023: DPIIT Secretary
Source: Accord Fintech
28/12/2022 11:52:44 AM
PLI scheme for textiles attracts Rs 1,536 cr in investments: Government 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 fabric...
PLI scheme for textiles attracts Rs 1,536 cr in investments: Government
PLI scheme for textiles attracts Rs 1,536 cr in investments: Government
Source: Dion Global Solutions Ltd
27/12/2022 9:55:54 AM
Despite global headwinds, Indian economy among fastest growing in the world: Finance Ministry Despite global economy experiencing several challenges, including the Russia-Ukraine conflict, the slowdown in China, persistently high inflation and tightening financial conditions, India continues to be one of the fastest growing economies in the world, sources in the Finance Ministry have said. As per the World Economic Outlook (WEO) October 2022 report of the IMF, the economies around the world were facing recessionary trends due to the aforementioned reasons. The slowdown of global...
Despite global headwinds, Indian economy among fastest growing in the world: Finance Ministry
Despite global headwinds, Indian economy among fastest growing in the world: Finance Ministry
Source: IANS
26/12/2022 3:50:00 PM
Focus in 2023 will be on boosting raw material supplies, producing more special grade steel: Faggan Singh Kulaste Union minister Faggan Singh Kulaste has said that with increasing steel production in the country, the focus in 2023 will be on boosting raw material supplies and producing more special grade steel. He noted that India produced 113.43 million tonne of crude steel in January-November 2022, which is a 10 per cent higher compared to the year-ago period. He also said the government aims to double the country's annual crude steel making capacity to 300 MT from 150 MT at present. The ministe...
Focus in 2023 will be on boosting raw material supplies, producing more special grade steel: Faggan Singh Kulaste
Focus in 2023 will be on boosting raw material supplies, producing more special grade steel: Faggan Singh Kulaste
Source: Accord Fintech
26/12/2022 11:41:50 AM
DPIIT working closely with 24 sectors to boost domestic manufacturing, increase exports The Department for Promotion of Industry and Internal Trade (DPIIT) is working closely with 24 sectors in order to boost domestic manufacturing, increase exports and cut down imports. It said efforts are on to boost the growth of these sectors in a holistic and coordinated manner. These sectors include furniture, air-conditioners, footwear, auto components, aluminium, electronics, agrochemicals, steel, textiles, EV components and integrated circuits, ethanol, ceramics, set top boxes, robotics...
DPIIT working closely with 24 sectors to boost domestic manufacturing, increase exports
DPIIT working closely with 24 sectors to boost domestic manufacturing, increase exports
Source: Accord Fintech
19/12/2022 11:20:52 AM
India going all out to give necessary impetus to indigenous manufacturing In the last few years, India has been focussing a lot on indigenous manufacturing. The Central government has taken up various measures to facilitate manufacturing in the country. The Centre has undertaken various steps to boost domestic and foreign investments in India as well. These include introduction of Goods and Services Tax, reduction in corporate tax, interventions to improve the ease of doing business, FDI policy reforms, measures for reduction in compliance burden, policy measure...
India going all out to give necessary impetus to indigenous manufacturing
India going all out to give necessary impetus to indigenous manufacturing
Source: IANS
14/12/2022 11:13:08 AM
India to face global competition effectively to become prosperous, developed nation: Piyush Goyal Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal has said that India will have to face global competition effectively to achieve the goal of becoming a prosperous and developed nation. On the way forward for the Indian economy and the steps being taken to realize the vision of Prime Minister Narendra Modi to make India a developed nation in Amrit Kaal, he remarked that 'the pandemic alerted us about our dependence on supply...
India to face global competition effectively to become prosperous, developed nation: Piyush Goyal
India to face global competition effectively to become prosperous, developed nation: Piyush Goyal
Source: Accord Fintech
9/12/2022 9:43:42 AM
India registers highest-ever annual FDI inflow of $84.84 billion in FY22: Som Parkash Listing series of measures taken by the Government to boost domestic and foreign investments in India, Minister of State for Commerce and Industry, Som Parkash has said that the reforms taken by Government have resulted in increased Foreign Direct Investment (FDI) inflows in the country. FDI inflows in India stood at $45.15 billion in 2014-2015 and have continuously increased since then, and India registered its highest ever annual FDI inflow of $84.84 billion (provisional figures) in the fin...
India registers highest-ever annual FDI inflow of $84.84 billion in FY22: Som Parkash
India registers highest-ever annual FDI inflow of $84.84 billion in FY22: Som Parkash
Source: Accord Fintech
8/12/2022 1:50:20 PM
EV charging station business may require investment of Rs 1.05 lakh crore by 2032: India Ratings India Ratings and Research (Ind-Ra) in its latest report has said that Electric vehicle (EV) charging station business may require an investment to the tune of Rs 1.05 lakh crore by 2032 as the country is expected to need 2.30 lakh such facilities during this period. This massive investment will be required to cater to the growing demand for EVs, which is expected to grow at a compounded annual growth rate (CAGR) of 39 per cent, and the resultant requirement of power. The report stated tha...
EV charging station business may require investment of Rs 1.05 lakh crore by 2032: India Ratings
EV charging station business may require investment of Rs 1.05 lakh crore by 2032: India Ratings
Source: Accord Fintech
8/12/2022 1:01:20 PM
Food processing sector critical for Indian economy as well as job creation: Niti Aayog CEO Parameswaran Iyer Niti Aayog CEO Parameswaran Iyer has said that the food processing sector is critical for the Indian economy as well as job creation and stressed on ramping up production and exports of processed items. He said there is a need to encourage the MSME sector to enter the food processing sector, which he described as a very important sector for the health of the economy and people. He underlined that food processing can boost farmers income and also help in achieving nutritional goals. He said th...
Food processing sector critical for Indian economy as well as job creation: Niti Aayog CEO Parameswaran Iyer
Food processing sector critical for Indian economy as well as job creation: Niti Aayog CEO Parameswaran Iyer
Source: Accord Fintech
5/12/2022 11:08:14 AM
India centre point of world`s hopes: Prime Minister Narendra Modi Prime Minister Narendra Modi said on Saturday that India has become the centre point of the world's hopes in the current challenging times for the global economy. He claimed that at a time when many countries are worried over their falling economies, India is touching new heights in several sectors and scripting a new story of development. "Today the entire world is passing through a new phase of struggle. Some countries are facing shortage of essential commodities while some a...
India centre point of world`s hopes: Prime Minister Narendra Modi
India centre point of world`s hopes: Prime Minister Narendra Modi
Source: IANS
12/11/2022 2:08:52 PM
Tejas Networks jumps on getting nod under Design-led PLI scheme for telecom & networking products Tejas Networks is currently trading at Rs. 686.75, up by 8.15 points or 1.20% from its previous closing of Rs. 678.60 on the BSE. The scrip opened at Rs. 682.00 and has touched a high and low of Rs. 692.00 and Rs. 680.75 respectively. So far 20366 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 773.00 on 10-Oct-2022 and a 52 week low of Rs. 359.50 on 08-Mar-2022. Last one week high and low of the scrip stood at...
Tejas Networks jumps on getting nod under Design-led PLI scheme for telecom & networking products
Tejas Networks jumps on getting nod under Design-led PLI scheme for telecom & networking products
Source: Accord Fintech
2/11/2022 1:44:18 PM
HFCL rises on getting approval under PLI Scheme HFCL is currently trading at Rs. 83.65, up by 0.60 points or 0.72% from its previous closing of Rs. 83.05 on the BSE. The scrip opened at Rs. 83.15 and has touched a high and low of Rs. 84.85 and Rs. 82.60 respectively. So far 494483 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 101.35 on 17-Jan-2022 and a 52 week low of Rs. 51.55 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs. 85.15 and R...
HFCL rises on getting approval under PLI Scheme
HFCL rises on getting approval under PLI Scheme
Source: Accord Fintech
2/11/2022 11:42:09 AM
Government considering second phase of PLI scheme for textile sector: Piyush Goyal The minister for textiles and commerce and industry Piyush Goyal has said the government is considering the second phase of the Production Linked Incentive (PLI) scheme for the textile sector to help the industry compete with top exporting countries like China and Vietnam. The minister instructed officials of the ministry to undertake extensive and exhaustive stakeholder consultations before finalising the contours of PLI 2.0. He asked them to make PLI 2.0 robust and emphasised that PLI 2....
Government considering second phase of PLI scheme for textile sector: Piyush Goyal
Government considering second phase of PLI scheme for textile sector: Piyush Goyal
Source: Accord Fintech
2/11/2022 10:26:48 AM
Government considering proposals to extend Rs 35,000 crore PLI scheme to various sectors With an aim to strengthen domestic manufacturing and generate employments, the government is considering proposals to extend Rs 35,000 crore production linked incentive (PLI) scheme to various sectors like leather, bicycle, some vaccine materials, and certain telecom products. PLI benefits are also being considered for toys, some chemicals and shipping containers. The proposals are at discussion stage. Inter-ministerial talks are going on to extend PLI benefits to all these different secto...
Government considering proposals to extend Rs 35,000 crore PLI scheme to various sectors
Government considering proposals to extend Rs 35,000 crore PLI scheme to various sectors
Source: Accord Fintech
17/10/2022 11:33:46 AM
Tamil Nadu to attract industries qualified under Centre's PLI scheme: M.K. Stalin Tamil Nadu will try to attract industries that have qualified under the Central government's productivity linked incentive (PLI) scheme, Chief Minister M.K. Stalin said on Friday. Inaugurating the Rs 1,100 crore smart phone factory of Taiwan's Pegatron near here he said the electronics industry has the capability to change the industrial map of the state. Citing companies like Salcomp, Dell, Bosch, Samsung, Foxconn, Tata Electronics, and others having their plants in the state, ...
Tamil Nadu to attract industries qualified under Centre's PLI scheme: M.K. Stalin
Tamil Nadu to attract industries qualified under Centre's PLI scheme: M.K. Stalin
Source: IANS
1/10/2022 11:07:21 AM
PLI-II scheme for solar manufacturing to help save close to Rs 1.4 lakh crore forex every year: R K Singh Union Power Minister R K Singh has 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 and it will also result in a huge quantity of inflows on account of exports. The minister stated that one of 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...
PLI-II scheme for solar manufacturing to help save close to Rs 1.4 lakh crore forex every year: R K Singh
PLI-II scheme for solar manufacturing to help save close to Rs 1.4 lakh crore forex every year: R K Singh
Source: Accord Fintech
22/09/2022 12:25:14 PM
Government working to extend incentives under PLI scheme to more sectors : Piyush Goyal Commerce and Industry Minister Piyush Goyal has said the government is working to extend incentives under the production linked incentive (PLI) scheme to more sectors. The government has announced PLI schemes for 14 sectors, including white goods, textiles and auto components.  He mentioned ‘We came up with PLI for 14 sectors apart from semiconductor... We are willing to go the extra mile in other  sectors. We are working on a few PLI schemes already The objective of the PL...
Government working to extend incentives under PLI scheme to more sectors : Piyush Goyal
Government working to extend incentives under PLI scheme to more sectors : Piyush Goyal
Source: Accord Fintech
21/09/2022 12:27:38 PM
Indian toy industry needs PLI key to become toy maker for the world With increasing exports, growing domestic market, almost zero imports from China, emergence of mega toy cluster, the Indian toy industry is all set to become the toy maker for the world, said the sector experts. According to them, a little nudge from the Central government in the form of a production linked incentive (PLI) scheme is the need of the hour which would have a multiplier effect. "We are shipping toys for global majors. Global toy majors are now looking at India as a ste...
Indian toy industry needs PLI key to become toy maker for the world
Indian toy industry needs PLI key to become toy maker for the world
Source: IANS
8/09/2022 2:31:04 PM
Report suggesting `India on the verge of capex recovery` gets mixed response India is on the verge of a new capital expenditure (capex) cycle recovery with the Central government spending big on infrastructure, said Prabhudas Lilladhar, a financial services player. However, Kotak Securities in its report, citing the Reserve Bank of India (RBI), said that the capex led loan demand is not visible as yet. "The current visibility of capex loan demand is still not comfortable to establish the view that growth from corporate sector is on an upswing. Infrastructur...
Report suggesting `India on the verge of capex recovery` gets mixed response
Report suggesting `India on the verge of capex recovery` gets mixed response
Source: IANS
22/08/2022 12:50:05 PM
Shifting geopolitical realities offer India an opportunity to shine At a time when investability in China is being questioned, shifting geopolitical realities offer India an opportunity to shine, Morgan Stanley said in a report. When the 15-nation UN security council hastily called for a vote in February to condemn Vladimir Putin's invasion of Ukraine, India joined China and Qatar to abstain. It was a difficult balancing act. Delhi did not want to alienate Russia, an important historical friend, which supplies 46 per cent of its military equipment, ...
Shifting geopolitical realities offer India an opportunity to shine
Shifting geopolitical realities offer India an opportunity to shine
Source: IANS
22/08/2022 9:08:03 AM
Commerce Minister stresses on `Whole of Government ` approach to boost exports Stressing on a ‘Whole of Govt’ approach to boost exports, Union Minister for Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textile Piyush Goyal has said that this would require exporters, EPCs, Govt Agencies & Indian Missions abroad to work together. Besides, recognizing the crucial role played by EPCs and Industry, Goyal remarked that EPCs & Industry Associations are key to realise ‘Local goes Global: India makes for the World&rsqu...
Commerce Minister stresses on `Whole of Government ` approach to boost exports
Commerce Minister stresses on `Whole of Government ` approach to boost exports
Source: Accord Fintech
8/08/2022 2:16:55 PM
Centre extends design-led telecom PLI scheme application date in 5G era In a bid to build a strong ecosystem for in th5G e country after a successful 5G spectrum auction, the government on Thursday extended the last date for submission of applications under the design-led manufacturing scheme till August 25. The Department of Telecommunication had notified the design-led production-linked scheme (PLI) scheme on February 24, 2021, with a financial outlay of Rs 12,195 crore. The guidelines for the production-linked incentive (PLI) scheme for telecom and netwo...
Centre extends design-led telecom PLI scheme application date in 5G era
Centre extends design-led telecom PLI scheme application date in 5G era
Source: IANS
4/08/2022 5:32:45 PM
Over 13 lakh electric vehicles in use in India: Centre tells Lok Sabha The government on Tuesday told the Lok sabha that a total of 13.34 lakh electric vehicles are in use across the country. "India has a total of 13.34 lakh electric vehicles while the number of non-electric vehicles stood at 27.81 crore," Minister of State for Heavy Industries Krishan Pal Gurjar told the House in a written reply to a question. He said that the Centre is taking a number of steps to promote use of electric vehicles in India. The minister, in his reply, said that t...
Over 13 lakh electric vehicles in use in India: Centre tells Lok Sabha
Over 13 lakh electric vehicles in use in India: Centre tells Lok Sabha
Source: IANS
20/07/2022 8:44:03 AM
Government considering to roll out PLI scheme for apparel sector to boost exports: Piyush Goyal Commerce and Industry Minister Piyush Goyal has said that the government is considering to roll out the production-linked incentive (PLI) scheme for the apparel sector to boost domestic manufacturing and exports. He said that discussions on the same are underway between the textiles ministry, the department for promotion of industry and internal trade (DPIIT) and Niti Aayog. He noted that the government has announced the PLI scheme with an outlay of Rs 1.97 lakh crore for over a dozen sectors...
Government considering to roll out PLI scheme for apparel sector to boost exports: Piyush Goyal
Government considering to roll out PLI scheme for apparel sector to boost exports: Piyush Goyal
Source: Accord Fintech
27/06/2022 12:25:30 PM
Indian auto ancillaries moving towards EVs, green manufacturing Sensing a global opportunity in the electric vehicles (EV) segment, Indian automotive ancillaries are shifting gears in sync with the trend, said a top industry sector official. Many of the players in the $46 billion (FY21) industry are also supplying to non-auto sectors like defence, railways and aerospace, Automotive Component Manufacturers Association of India (ACMA) President Sunjay J. Kapur said. "About 60 per cent of our Executive Committee members (about 50) are ready to sup...
Indian auto ancillaries moving towards EVs, green manufacturing
Indian auto ancillaries moving towards EVs, green manufacturing
Source: IANS
23/06/2022 5:30:27 PM
Government launches design-linked incentive scheme, extends telecom PLI by 1 year The Department of Telecom (DoT) on Monday announced an incentive scheme for design-led manufacturing, along with extending the duration of production-linked incentive (PLI) scheme by a year. Applications are invited from June 21 for design-led manufacturing incentive of more than Rs 4,000 crore. The DoT also announced an additional incentive rate of 1 per cent over and above the existing rates. "The existing PLI beneficiaries will be given an option to choose financial year 2021...
Government launches design-linked incentive scheme, extends telecom PLI by 1 year
Government launches design-linked incentive scheme, extends telecom PLI by 1 year
Source: IANS
21/06/2022 8:17:28 AM
Manufacturing sector capital expenditure on course for leg-up with government's PLI schemes: Icra Ratings Icra Ratings in its report has said that manufacturing sector capital expenditure is on course for a leg-up with overwhelming responses to the government's production-linked incentives schemes, especially for lithium-ion battery, pharma and solar module segments. So far the PLI (Production-Linked Incentive) scheme has received robust response in green initiative spaces such as renewable energy as well as ACC (Advanced Chemistry Cell) battery manufacturing. This shows that the scheme is on...
Manufacturing sector capital expenditure on course for leg-up with government's PLI schemes: Icra Ratings
Manufacturing sector capital expenditure on course for leg-up with government's PLI schemes: Icra Ratings
Source: Accord Fintech
2/06/2022 10:03:33 AM
Imposition of export duties on steel products to send negative signal to investors: ISA The Indian Steel Association (ISA) has said that the imposition of export duties on steel products will send a negative signal to investors and adversely impact capacity expansion projects under the PLI scheme. The body further said, steel industry in India has made the largest investment commitments ranging from 36 percent to 40 percent of total investments committed by the entire manufacturing sector. It also said these investments in capacity building are needed to achieve the Atmanirbhar ...
Imposition of export duties on steel products to send negative signal to investors: ISA
Imposition of export duties on steel products to send negative signal to investors: ISA
Source: Accord Fintech
23/05/2022 12:28:07 PM
Centre provisionally selects 14 firms under Drone PLI scheme The Central government has provisionally selected 14 firms under the Production-Linked Incentive (PLI) scheme for drone and drone components. On Wednesday, the Ministry of Civil Aviation (MoCA) released the first provisional list of 14 beneficiaries under the scheme. Accordingly, these 14 beneficiaries include five drone manufacturers and nine drone component manufacturers. Earlier, the ministry had invited applications from eligible manufacturers on March 10, 2022 and the last date ...
Centre provisionally selects 14 firms under Drone PLI scheme
Centre provisionally selects 14 firms under Drone PLI scheme
Source: IANS
21/04/2022 8:57:24 AM
Sangam (India) rises on getting nod under PLI scheme for manufacturing of textiles products in India Sangam (India) is currently trading at Rs. 347.00, up by 3.50 points or 1.02% from its previous closing of Rs. 343.50 on the BSE. The scrip opened at Rs. 347.70 and has touched a high and low of Rs. 361.40 and Rs. 344.00 respectively. So far 8961 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 423.40 on 24-Jan-2022 and a 52 week low of Rs. 75.70 on 20-Apr-2021. Last one week high and low of the scrip stood at R...
Sangam (India) rises on getting nod under PLI scheme for manufacturing of textiles products in India
Sangam (India) rises on getting nod under PLI scheme for manufacturing of textiles products in India
Source: Accord Fintech
18/04/2022 11:11:43 AM
PLI scheme boosts production of over 35 products in India: Mansukh Mandaviya Through Production Linked Incentive (PLI) scheme, the Union government has tried to reduce import by encouraging domestic manufacturing of pharmaceuticals. PLI scheme has led to initiate production of more than 35 products in India, said Union Health Minister Mansukh Mandaviya on Thursday. Mandaviya said the pharmaceutical industry has a vital role to play in realising the vision of 'Atmanirbhar Bharat'. While addressing 'Indian Pharma -- Global Health Care' event to ...
PLI scheme boosts production of over 35 products in India: Mansukh Mandaviya
PLI scheme boosts production of over 35 products in India: Mansukh Mandaviya
Source: IANS
15/04/2022 10:06:42 AM
Over 60 applicants approved under PLI scheme for textiles The Centre has selected 61 applicants under Production Linked Incentive (PLI) scheme for the textiles sector. According to Union Textiles Secretary U.P. Singh, 61 applications were approved with Rs 19,077 crore expected as the total investment and a projected turnover of Rs 184,917 crore over a period of 5 years with a proposed direct employment of 240,134. In all, a total of 67 applications were received, out of which 15 applications are under part 1 of the scheme and 52 applications a...
Over 60 applicants approved under PLI scheme for textiles
Over 60 applicants approved under PLI scheme for textiles
Source: IANS
15/04/2022 9:03:57 AM
PLI to drive Indian mobile manufacturing to reach Rs 5.5 lakh cr by 2026 The production-linked incentive (PLI) scheme is likely to push mobile phone manufacturing at a healthy growth trajectory of 15-20 per cent CAGR to reach a value of Rs 5-5.5 lakh crore by FY2026, rating agency ICRA said on Tuesday. The government introduced PLI for large-scale electronics manufacturing in April 2020, primarily targeting mobile phones and specified electronic components as product categories with a cumulative outlay of Rs 38,601 crore. The scheme intends to offer incentiv...
PLI to drive Indian mobile manufacturing to reach Rs 5.5 lakh cr by 2026
PLI to drive Indian mobile manufacturing to reach Rs 5.5 lakh cr by 2026
Source: IANS
12/04/2022 4:24:45 PM
Stalin meets Modi, seeks PLI scheme for footwear sector The necessity for a Production-linked Incentive (PLI) scheme for the footwear manufacturing sector; setting up of a Defence Research and Development Organisation (DRDO) lab in the state; supply of coal in adequate quantity as agreed; and sharing of cess and surcharge with the states were some of the demands raised by Tamil Nadu Chief Minister M.K. Stalin during his meeting with Prime Minister Narendra Modi in the national capital on Thursday. During his meeting with the Prime Minister, Sta...
Stalin meets Modi, seeks PLI scheme for footwear sector
Stalin meets Modi, seeks PLI scheme for footwear sector
Source: IANS
31/03/2022 5:37:47 PM
Manufacturing of 35 active pharmaceutical ingredients started in India under PLI: Mansukh Mandaviya Union minister Mansukh Mandaviya has said manufacturing of 35 active pharmaceutical ingredients, which have been imported earlier, has started in India under the production linked scheme (PLI) for the pharmaceuticals sector.  These 35 active pharmaceutical ingredients (APIs) are among the 53 APIs, for which India has 90 per cent import dependence. He stated the 35 APIs are being manufactured from 32 different manufacturing plants. This will give a boost to AatmaNirbhar Bharat. This wo...
Manufacturing of 35 active pharmaceutical ingredients started in India under PLI: Mansukh Mandaviya
Manufacturing of 35 active pharmaceutical ingredients started in India under PLI: Mansukh Mandaviya
Source: Accord Fintech
30/03/2022 10:17:34 AM
Approval to 75 auto component manufacturers under PLI scheme to act as catalyst in transformation journey: ACMA Automotive Component Manufacturers Association of India's (ACMA's) President Sunjay J Kapur has said that the approval granted by the government to 75 auto component manufacturers for incentives under the production-linked incentive (PLI) scheme will act as a catalyst in the transformational journey from a conventional industry to a mobility industry. Kapur said out of a total of 92 auto component manufacturers that applied, 75 have been approved for incentives under the PLI scheme...
Approval to 75 auto component manufacturers under PLI scheme to act as catalyst in transformation journey: ACMA
Approval to 75 auto component manufacturers under PLI scheme to act as catalyst in transformation journey: ACMA
Source: Accord Fintech
16/03/2022 12:37:32 PM
Sanctions against Russia may offer opportunities for India's space sector The US and Europe's economic sanctions against Russia for its military action against Ukraine may throw up economic opportunities for the Indian space sector, instead of burdening it with economic cost, say industry experts. They also feel that to cash on the opportunities, India should accelerate its satellite launch capabilities, and announce productivity-linked incentive (PLI) schemes for the aerospace sector. "All those countries feeling the pinch due to the absence of Russ...
Sanctions against Russia may offer opportunities for India's space sector
Sanctions against Russia may offer opportunities for India's space sector
Source: IANS
12/03/2022 4:31:47 PM
Centre invites applications for drone PLI scheme The Central government on Thursday invited applications from the drone industry for the sector's production linked incentive (PLI) scheme. The total incentive in the scheme is Rs 120 crore spread over three financial years, and the sum is nearly double the combined turnover of all domestic drone manufacturers in FY 2020-21. Besides, the PLI rate is 20 per cent of the value addition. "The value addition shall be calculated as the annual sales revenue from drones and drone com...
Centre invites applications for drone PLI scheme
Centre invites applications for drone PLI scheme
Source: IANS
11/03/2022 9:34:51 AM