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PLI scheme for white goods: 38 firms commit investments worth Rs 4,121 crore In a boost for local manufacturing, 38 companies have applied for the PLI scheme for white goods (air conditioners and LED lights) with a net committed investment of Rs 4,121 crore in the third round, the government informed on Monday.   The third round of the online application window ended on October 12 after being open for 90 days from July 15. According to the Ministry of Commerce and Industry, about 43 per cent of the new applicants are in the MSME sector which shows the confi...
PLI scheme for white goods: 38 firms commit investments worth Rs 4,121 crore
PLI scheme for white goods: 38 firms commit investments worth Rs 4,121 crore
Source: IANS
2024-10-15 09:44:39 am
`Indian era` is here despite huge global uncertainty: PM Narendra Modi In the midst of a huge global uncertainty, the "Indian Era" is here which shows that trust in Bharat today is unique, and demonstrates that the nation's self-confidence is exceptional, Prime Minister Narendra Modi said on Friday.  Addressing the third ‘Kautilya Economic Conclave 2024’ here, PM Modi said that this event is being held at a time when two major regions of the world are in a state of war. "These regions are crucial for the global economy, ...
`Indian era` is here despite huge global uncertainty: PM Narendra Modi
`Indian era` is here despite huge global uncertainty: PM Narendra Modi
Source: IANS
2024-10-05 09:29:42 am
'Job creation powerhouse': FM Nirmala Sitharaman credits PM Narendra Modi for manufacturing sector boost Finance Minister Nirmala Sitharaman on Tuesday credited Prime Minister Narendra Modi for the recently reported remarkable surge in manufacturing jobs and wages for workers in FY 23, where they have risen by 7.6 per cent and 5.5 per cent, respectively, saying under his leadership, the sector has "not only rebounded but is now thriving".  As per the government's Annual Survey of Industries 2022-23, nationwide employment in the sector has achieved a laudable rise from 1.6 c...
'Job creation powerhouse': FM Nirmala Sitharaman credits PM Narendra Modi for manufacturing sector boost
'Job creation powerhouse': FM Nirmala Sitharaman credits PM Narendra Modi for manufacturing sector boost
Source: IANS
2024-10-02 10:16:36 am
Indian EV Industry to become major power consumer amid robust growth With nearly four million electric vehicles (EVs) sold in India cumulatively by March this year, the market is in the midst of an explosive growth phase and will become a major power consumer, a report said on Thursday.  From merely 1.3 lakh EVs sold in 2020, an estimated 1.6 million EVs were sold in the country in 2023, which is a sizeable compounded annual growth rate of 133 per cent in the last three years. For the same period, the share of petrol vehicle sales of total vehicle s...
Indian EV Industry to become major power consumer amid robust growth
Indian EV Industry to become major power consumer amid robust growth
Source: IANS
2024-09-20 08:36:51 am
Government dedicated to support growth, innovation within textile sector: Giriraj Singh During the interaction with the beneficiaries of the Production Linked Incentive (PLI) Scheme for MMF Apparel, fabrics and technical textiles, Union Minister of Textiles Giriraj Singh has assured that the Government is dedicated to support the growth and innovation within the textile sector. The participants showcased the ongoing commitment, successes, experiences, feedback, and challenges of the Schemes.  Future strategies and enhancements to further strengthen the scheme’s eff...
Government dedicated to support growth, innovation within textile sector: Giriraj Singh
Government dedicated to support growth, innovation within textile sector: Giriraj Singh
Source: Accord Fintech
2024-08-21 01:56:14 pm
Ola Electric Mobility rides high as its S1 X 3 kWh, 4 kWh scooters get PLI certification Ola Electric Mobility is currently trading at Rs. 138.96, down by 1.24 points or 0.90% from its previous closing of Rs. 137.72 on the BSE. The scrip opened at Rs. 142.16 and has touched a high and low of Rs. 143.80 and Rs. 135.26 respectively. So far 4270320 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 157.53 on 20-Aug-2024 and a 52 week low of Rs. 75.99 on 09-Aug-2024. Last one week high and low of the scri...
Ola Electric Mobility rides high as its S1 X 3 kWh, 4 kWh scooters get PLI certification
Ola Electric Mobility rides high as its S1 X 3 kWh, 4 kWh scooters get PLI certification
Source: Accord Fintech
2024-08-21 10:37:29 am
Interarch Building Products coming with IPO to raise Rs 612.29 crore Interarch Building Products   Interarch Building Products is coming out with a 100% book building; initial public offering (IPO) of 68,03,184 shares of Rs 10 each in a price band Rs 850-900 per equity share.         Not more than 50% of the issue will be allocated to Qualified Institutional Buyers (QIBs), including 5% to the mutual funds. Further, not less than 15% of the issue will be available for the non-institutional bidders and the remaining 35% f...
Interarch Building Products coming with IPO to raise Rs 612.29 crore
Interarch Building Products coming with IPO to raise Rs 612.29 crore
Source: Accord Fintech
2024-08-16 04:33:27 pm
India’s pharma exports continue to grow at brisk pace India’s drugs and pharmaceuticals exports are continuing to maintain their steady growth with an 8.36 per cent increase to $2.31 billion during July this year as the country’s cost-effective generic medicines continue to gain popularity in advanced western nations.  The country's drugs and pharmaceuticals exports increased 9.67 per cent year-on-year to $27.9 billion in 2023-24 and the growth is continuing in the current financial year as well. The US accounts for ov...
India’s pharma exports continue to grow at brisk pace
India’s pharma exports continue to grow at brisk pace
Source: IANS
2024-08-16 01:54:29 pm
FDI in India’s manufacturing sector hits $165 bn, 69 pc growth in last 10 years The country is emerging as a top destination for foreign investment in the manufacturing sector and in the last decade, foreign direct investment (FDI) inflows in the sector surged almost 69 per cent to reach $165.1 billion, according to the government.  Jitin Prasada, Minister of State for Commerce and Industry, informed that FDI equity inflow in the manufacturing sectors in the last 10 financial years (2014-24) has increased by 69 per cent to $165.1 billion as compared to $97.7 bill...
FDI in India’s manufacturing sector hits $165 bn, 69 pc growth in last 10 years
FDI in India’s manufacturing sector hits $165 bn, 69 pc growth in last 10 years
Source: IANS
2024-08-11 12:21:03 pm
Bangladesh unrest a $250 mn monthly readymade garment export opportunity for India If the political unrest prolong in Bangladesh, nearly 10 per cent of the neighbouring country’s readymade garment (RMG) export orders could shift, presenting a $200-250 million monthly export opportunity for India’s RMG sector in the near term and $300-350 million in the medium term, a report said on Thursday.  India has enough headroom to increase RMG exports by 20-25 per cent given the available capacities in the sector, according to a CareEdge Ratings report. “...
Bangladesh unrest a $250 mn monthly readymade garment export opportunity for India
Bangladesh unrest a $250 mn monthly readymade garment export opportunity for India
Source: IANS
2024-08-08 02:12:21 pm
EV penetration improved sharply in 2 and 3-wheeler segment in India in July The electric vehicle (EV) penetration improved sharply in the two-wheeler and three-wheeler segment in India last month, a report said on Monday, while the government extended the Electric Mobility Promotion Scheme (EMPS) subsidy till September 30.  Electric 2W volumes crossed the 1,00,000 mark last month while E3W volumes reached a new peak of 63,000, according to the report by BNP Paribas India. In the E2W, Bajaj Auto gained the most market share while Ola lost the most. In th...
EV penetration improved sharply in 2 and 3-wheeler segment in India in July
EV penetration improved sharply in 2 and 3-wheeler segment in India in July
Source: IANS
2024-08-06 09:17:10 am
India`s prowess in electronics powered by innovative youth: PM Narendra Modi Prime Minister Narendra Modi on Monday said India’s prowess in electronics is powered by innovative youth, as the electronics exports, driven by Apple iPhones, reached the third spot in the top 10 exports in the April-June quarter (Q1 FY25).  According to data by the Department of Commerce, electronics exports are now in the third position, with engineering products at the top, followed by petroleum. “This is indeed a matter of immense joy. India’s prowess in elec...
India`s prowess in electronics powered by innovative youth: PM Narendra Modi
India`s prowess in electronics powered by innovative youth: PM Narendra Modi
Source: IANS
2024-08-05 03:05:09 pm
EV registration up over 43 pc in FY24, Rs 17,896 crore invested: Centre The number of electric vehicles (EVs) registered in FY24 increased significantly by 42.06 per cent as compared to FY23, the Parliament was told on Friday.   In FY24, 16,81,127 EVs were registered on the e-Vahan portal, against 11,83,341 such vehicles in FY23, Minister of State for Heavy Industries and Steel, Bhupathi Raju Srinivasa Varma, told the Rajya Sabha. According to the Ministry of Road Transport & Highways (MoRTH), a total of 45,74,938 electric vehicles have been re...
EV registration up over 43 pc in FY24, Rs 17,896 crore invested: Centre
EV registration up over 43 pc in FY24, Rs 17,896 crore invested: Centre
Source: IANS
2024-08-03 08:55:51 am
Apple's iPhone market share to reach 7 pc in India this year: Experts Buoyed by the friendly production-linked incentive (PLI) scheme of the government, Apple's iPhone market in the country is all set to reach 7 per cent by the end of this year, and the company is projected to surpass $9 billion in revenue this year, industry data showed on Friday.  The Cupertino-based tech giant clocked nearly $8 billion revenue in India in the last fiscal year (FY24). The company achieved record export numbers around $3.8 billion in the April-June period (Q2 FY...
Apple's iPhone market share to reach 7 pc in India this year: Experts
Apple's iPhone market share to reach 7 pc in India this year: Experts
Source: IANS
2024-08-02 04:34:17 pm
755 PLI applications approved with Rs 1.23 lakh crore investment; 8 lakh jobs created: Centre The Centre on Tuesday informed that 755 applications have been approved across 14 key sectors under the production-linked incentive (PLI) schemes and investment of Rs 1.23 lakh crore have been realised (till March), resulting in around 8 lakh jobs.  Keeping in view India's vision of becoming 'Atmanirbhar', PLI schemes for 14 key sectors were announced with an outlay of Rs 1.97 lakh crore (over $26 billion) to enhance the country’s manufacturing capabilities and expor...
755 PLI applications approved with Rs 1.23 lakh crore investment; 8 lakh jobs created: Centre
755 PLI applications approved with Rs 1.23 lakh crore investment; 8 lakh jobs created: Centre
Source: IANS
2024-07-31 10:01:53 am
Apple set to manufacture high-end iPhone 16 Pro models in India, to arrive soon after global launch In a fillip to the country’s local manufacturing success story, tech giant Apple is set to make its ‘Make in India’ iPhone 16 Pro and 16 Pro Max models available in the country right after the global launch this fall, industry sources said on Friday.  Sources told IANS that these high-end, India-assembled Apple devices will be available within 1-2 months of the global launch in partnership with leading manufacturer Foxconn’s facility in Sriperumbudur, Tamil Nad...
Apple set to manufacture high-end iPhone 16 Pro models in India, to arrive soon after global launch
Apple set to manufacture high-end iPhone 16 Pro models in India, to arrive soon after global launch
Source: IANS
2024-07-26 05:18:58 pm
iPhone exports from India touch new all-time high in April-June quarter In yet another success story of India’s local manufacturing push, iPhone maker Apple has achieved record exports numbers in the April-June quarter in the country, reaching around $3.8 billion.   Riding on the government’s production-linked incentive (PLI) scheme, Apple reached a new all-time high in the Q1 FY25, according to industry data, as manufacturers continue to look at the ‘China + 1 business strategy’ to avoid investing only in the neighbouring country ...
iPhone exports from India touch new all-time high in April-June quarter
iPhone exports from India touch new all-time high in April-June quarter
Source: IANS
2024-07-26 01:48:27 pm
Government assures green energy sector of support under PLI scheme Minister of State for New and Renewable Energy (MNRE), Shripad Yesso Naik on Thursday held discussions with industry representatives on the production-linked incentive (PLI) scheme and other incentives to promote Indian manufacturing in the renewable energy sector.   He assured renewable energy industry associations of full support from MNRE, emphasising the government's commitment to accelerating India's transition to a low-carbon economy. Secretary, MNRE, Bhupinder Singh ...
Government assures green energy sector of support under PLI scheme
Government assures green energy sector of support under PLI scheme
Source: IANS
2024-07-26 09:42:06 am
PLI booster: 32 firms invest Rs 8,282 crore for large-scale electronics manufacturing In a fillip to local manufacturing, 32 companies have invested Rs 8,282 crore under the production-linked incentive (PLI) scheme for large-scale electronics manufacturing till June 30, the Parliament was informed on Wednesday.   The IT Ministry said that 27 companies have cumulatively invested Rs 464.66 crore under the PLI scheme for IT hardware and PLI scheme 2.0 for IT hardware. In a written reply to a question in Lok Sabha, Minister of State for Electronics and IT, Jitin Prasada...
PLI booster: 32 firms invest Rs 8,282 crore for large-scale electronics manufacturing
PLI booster: 32 firms invest Rs 8,282 crore for large-scale electronics manufacturing
Source: IANS
2024-07-25 10:01:58 am
PLI booster: Telecom equipment manufacturing sales cross Rs 50,000 crore The telecom equipment manufacturing sales have crossed Rs 50,000 crore under the production-linked incentive (PLI) scheme, creating more than 17,800 direct jobs and many more indirect jobs, the government said on Wednesday.  Within three years of the telecom PLI scheme, it attracted an investment of Rs 3,400 crore, the telecom equipment production exceeded the milestone of Rs 50,000 crore with exports at about Rs 10,500 crore, said the Ministry of Communications. The sales of telec...
PLI booster: Telecom equipment manufacturing sales cross Rs 50,000 crore
PLI booster: Telecom equipment manufacturing sales cross Rs 50,000 crore
Source: IANS
2024-07-10 09:59:57 am
Mobile phone exports: India gains with PLI scheme as China & Vietnam falter In a major boost to India’s production-linked incentive (PLI) scheme, mobile phone exports from the country gained much ground in FY24 as manufacturing giants like China and Vietnam fell behind. Railways, I&B and IT Minister Ashwini Vaishnaw posted on X on Monday that “Bharat’s focus on manufacturing with ‘Make in India’ and PLI scheme is showing good results.” As tech giants like Apple continue to shift iPhone manufacturing to India amid politica...
Mobile phone exports: India gains with PLI scheme as China & Vietnam falter
Mobile phone exports: India gains with PLI scheme as China & Vietnam falter
Source: IANS
2024-07-01 03:28:21 pm
India on way to become a global economic superpower Driven by the government's production-linked incentive (PLI) schemes, robust local manufacturing towards becoming a supply chain hub, and strong GDP growth, India is marching towards becoming a global economic superpower in the next decade.  The country embarked upon its journey under various schemes launched by Prime Minister Narendra Modi and his government in the last 10 years. It saw tremendous growth -- be it a thrust on local manufacturing, new semiconductor plants, AI, 5G, ...
India on way to become a global economic superpower
India on way to become a global economic superpower
Source: IANS
2024-06-27 05:20:05 pm
PLI scheme to be expanded to garment sector: Textiles Minister  Union Textiles Minister Giriraj Singh on Tuesday announced that the Rs 10,000 crore PLI scheme will be expanded to the garment sector to boost domestic manufacturing and exports. In his inaugural address at the India International Garment Fair (IIGF) here, Giriraj Singh said that the ministry is poised to revive the Scheme for Integrated Textile Parks (SITP) to create internationally standardised parks. He emphasised that the government will focus on revamping textile parks and pr...
PLI scheme to be expanded to garment sector: Textiles Minister
PLI scheme to be expanded to garment sector: Textiles Minister
Source: IANS
2024-06-26 10:38:57 am
India plans to expand production-linked incentives for small textile firms India plans to expand production linked incentives (PLI) to small textile firms soon, part of efforts to increase garment exports to $50 billion by 2030, the federal textile minister said on Tuesday. The government introduced incentives for the textile sector in 2021, and has so far approved 64 proposals worth 198 billion rupees ($2.37 billion) to promote production of man-made fibre (MMF) fabric, garments and technical textiles. "We are considering to review the PLI scheme," ...
India plans to expand production-linked incentives for small textile firms
India plans to expand production-linked incentives for small textile firms
Source: Reuters
2024-06-25 06:10:31 pm
Centre plans to revamp PLI schemes to boost MSME sector The government is planning to revamp the production-linked incentives (PLIs) by relaxing the norms for releasing funds, including more sectors under the scheme, and extending benefits to MSMEs (micro, small and medium enterprises) in labour-intensive sectors through special carve-outs, media reports have said.  The restructuring would also include incentives for research & development (R&D) to create a manufacturing ecosystem. According to the reports, the government has be...
Centre plans to revamp PLI schemes to boost MSME sector
Centre plans to revamp PLI schemes to boost MSME sector
Source: IANS
2024-06-19 01:38:05 pm
With increasing government support, next 5 years hold great potential for EV sector: Experts With increasing governmental support, infrastructural advancements, and growing consumer awareness, the next five years hold immense potential for the electric vehicle (EV) sector, experts said on Tuesday.  According to Anil G, Co-Founder and COO at Bounce Infinity, some key policies the government has implemented over the years have brought in a lot of "stability in how the economy is today and how businesses operate today". Looking forward to the next government, he tol...
With increasing government support, next 5 years hold great potential for EV sector: Experts
With increasing government support, next 5 years hold great potential for EV sector: Experts
Source: IANS
2024-06-04 04:22:10 pm
Netweb opens high-end computing system manufacturing facility in India, to create hundreds of jobs In line with the government's 'Make in India' initiative, technology solutions provider Netweb Technologies on Friday inaugurated a high-end computing servers, storage and switch manufacturing facility in the country. Located in Faridabad, the facility will enable the company to manufacture high-end computing systems based on the latest chips from Netweb's technology partners such as Intel, Nvidia and AMD. The facility is also expected to create hundreds of local jobs an...
Netweb opens high-end computing system manufacturing facility in India, to create hundreds of jobs
Netweb opens high-end computing system manufacturing facility in India, to create hundreds of jobs
Source: IANS
2024-05-10 04:04:19 pm
IPO-bound Ola Electric gets certification for 2nd e-scooter under government`s PLI scheme Bhavish Aggarwal-led Ola Electric has received certification for its S1 Pro (Gen-2) electric scooter under the government’s production-linked incentive (PLI) scheme for the automobile and auto component industry. Sources told IANS on Saturday that the IPO-bound company had applied for the PLI certification for S1 Pro in October and received the certification this week. The company’s Ola S1 Pro and Ola S1 Air are now eligible for subsidies under the government’s auto PL...
IPO-bound Ola Electric gets certification for 2nd e-scooter under government`s PLI scheme
IPO-bound Ola Electric gets certification for 2nd e-scooter under government`s PLI scheme
Source: IANS
2024-02-10 04:17:13 pm
Goverment looking to improve telecom PLI scheme: Telecom Secretary Telecom Secretary Neeraj Mittal has said that the government is looking to improve the telecom Production-Linked Incentive (PLI) scheme and sought the views and inputs from Micro, Small and Medium Enterprises (MSMEs) for the new, better scheme.  Noting that small, innovative companies are building some ‘excellent’ products, he said he wished to see MSMEs vie and compete not only for public sector tenders but also mark their presence in private sector orders.   ...
Goverment looking to improve telecom PLI scheme: Telecom Secretary
Goverment looking to improve telecom PLI scheme: Telecom Secretary
Source: Accord Fintech
2024-01-30 02:00:52 pm
PLI, GST exemption on budget wishlist of Indian Space Association  Production linked incentive (PLI) scheme for space grade components, exemption from good and services tax (GST), tax holiday, concessional custom duty, lower tax rate on external commercial borrowing and others are on the budget wishlist of the Indian Space Association (ISpA). The ISpA is the lobby body for the private players in the Indian space sector. According to ISpA, the GST should be exempted to satellites, rockets and ground equipment manufacturing as well as on procuremen...
PLI, GST exemption on budget wishlist of Indian Space Association
PLI, GST exemption on budget wishlist of Indian Space Association
Source: IANS
2024-01-24 02:57:15 pm
Ola Electric 1st electric vehicle company to get PLI approval IPO-bound Ola Electric has reportedly become the first Indian e-scooter (e2W) company to get eligible for the government’s production-linked incentive (PLI) scheme. The approval has come from the Ministry of Heavy Industries (MHI) and the process took almost four months, according to multiple reports. There was no official word from either the government or Ola Electric. The other applicants for the PLI scheme are Hero MotoCorp, TVS Motor Company, Bajaj Auto and more. For e2...
Ola Electric 1st electric vehicle company to get PLI approval
Ola Electric 1st electric vehicle company to get PLI approval
Source: IANS
2023-12-31 11:53:31 am
Ola Electric raises Rs 3,200 cr to boost EV biz, build cell manufacturing factory Ola Electric on Thursday announced it has closed Rs 3,200 crore in funding as part of its equity and debt round from Temasek-led investors and project debt from the State Bank of India, respectively.The funds raised would be used towards expansion of Ola?s EV business and setting up India's first lithium-ion cell manufacturing facility in Krishnagiri, Tamil Nadu, the company said in a statement.Ola Electric aims to launch electric motorcycles followed by electric cars and fast-tracking the co...
Ola Electric raises Rs 3,200 cr to boost EV biz, build cell manufacturing factory
Ola Electric raises Rs 3,200 cr to boost EV biz, build cell manufacturing factory
Source: IANS
2023-10-26 03:42:22 pm
Government to bring out another PLI scheme for batteries to bring down cost: Raj Kumar Singh The Union Power and New & Renewable Energy Minister R K Singh has said that the government will bring out another production-linked incentive (PLI) scheme for batteries to bring down cost and boost the adoption of electric vehicles in India. He was of the view that the price of storage will come down with higher volumes.?The minister pointed towards limited battery manufacturing capacity in the world and termed it as a reason for high prices. He opined that higher cost and lower driving range...
Government to bring out another PLI scheme for batteries to bring down cost: Raj Kumar Singh
Government to bring out another PLI scheme for batteries to bring down cost: Raj Kumar Singh
Source: Accord Fintech
2023-10-17 12:15:04 pm