Wednesday, December 18

Tag: PLI scheme

PLI schemes attracted over Rs 95,000 cr investment till Sep 2023: Centre
27Dec By adminNo Comments
Business

PLI schemes attracted over Rs 95,000 cr investment till Sep 2023: Centre

It added that of the USD 101 billion worth of total electronics production in 2022-23, smartphones constituted USD 44 billion, including USD 11.1 billion as exports. The production-linked incentive (PLI) schemes for 14 sectors have attracted over Rs 95,000 crore in investment till September this year, an official statement said on Tuesday. According to the Commerce and Industry Ministry, as many as 746 applications have been approved till November 2023 under these schemes. In the Union Budget 2021-22, the government announced an outlay of Rs 1.97 trillion for the schemes. The sectors included electronics, telecommunication, pharma, white goods (AC and LED light components), and textiles. The aim is to enhance India's manufacturing capabilities and exports. ...
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Dell, HP, Bhagwati, Foxconn Among 27 Companies Approved Under PLI 2.0: Union Minister Vaishnaw
18Nov By adminNo Comments
Business

Dell, HP, Bhagwati, Foxconn Among 27 Companies Approved Under PLI 2.0: Union Minister Vaishnaw

Twenty-seven companies have successfully obtained approvals under the Production Linked Incentive (PLI) scheme 2.0 in the IT hardware sector, Union Minister for Electronics and IT Ashwini Vaishnaw has announced.“Twenty-three approved companies are ready to start their manufacturing on day zero, while four of the companies will start their production in the next 90 days,” he said.“Today’s announcement will set us as a very important player in IT hardware which includes laptops, servers and tablets. All these devices will be manufactured under this PLI scheme and that will make us a big force in this sector. In terms of electronics manufacturing, already we are at around $105 billion and we are moving rapidly to $300 billion in the coming few years,” he added.The outcomes of this approval d...
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Dell, HP, Foxconn, Lenovo among 27 firms granted approval under new IT hardware PLI scheme
18Nov By adminNo Comments
Business

Dell, HP, Foxconn, Lenovo among 27 firms granted approval under new IT hardware PLI scheme

NEW DELHI: The Centre on Saturday said approval for participation in the new Production-Linked Incentive (PLI) scheme for IT hardware has been granted to 27 companies, including major players such as Dell, HP, Foxconn, and Lenovo.This development aligns with India's proactive strategy to attract IT hardware companies through enticing policies and incentive programmes, with the overarching goal of positioning itself as a leading global hub for cutting-edge manufacturing.The anticipated investment from these 27 approved companies is estimated to reach Rs 3,000 crore.Expressing satisfaction, IT minister Ashwini Vaishnaw said: "I am delighted to announce that 27 companies have secured approval under the PLI IT hardware scheme. Nearly 95% of these companies are geared up to commence manufactur...
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Electronics Sector: Empowered committee in PLI scheme approves Rs 1,000 crore disbursement to beneficiaries of electronics sector
15Oct By adminNo Comments
Business

Electronics Sector: Empowered committee in PLI scheme approves Rs 1,000 crore disbursement to beneficiaries of electronics sector

NEW DELHI: The Empowered committee in PLI (production-linked incentive) scheme has approved Rs 1,000 crore disbursement to beneficiary firms of the electronics sector, a top government official said. The government disbursed Rs 2,900 crore till March 2023, out of claims worth Rs 3,400 crore received under the scheme, which aims at boosting domestic manufacturing, creating jobs and supporting exports. "In the recent meeting of the committee, Rs 1,000 crore disbursements were approved under the PLI scheme for the electronics sector. Actual disbursement to the beneficiary companies would take a few more days," the official said. This would be the first disbursement of this fiscal. The scheme was announced in 2021, for 14 sectors including large-scale electronic manufacturing, white goods,...
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Committee in PLI scheme approves Rs 1,000 cr disbursement to beneficiaries
15Oct By adminNo Comments
Business

Committee in PLI scheme approves Rs 1,000 cr disbursement to beneficiaries

The Empowered committee in PLI (production-linked incentive) scheme has approved Rs 1,000 crore disbursement to beneficiary firms of the electronics sector, a top government official said. The government disbursed Rs 2,900 crore till March 2023, out of claims worth Rs 3,400 crore received under the scheme, which aims at boosting domestic manufacturing, creating jobs and supporting exports. "In the recent meeting of the committee, Rs 1,000 crore disbursements were approved under the PLI scheme for the electronics sector. Actual disbursement to the beneficiary companies would take a few more days," the official said. This would be the first disbursement of this fiscal. The scheme was announced in 2021, for 14 sectors including large-scale electronic manufa...
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32 companies apply under PLI IT hardware scheme: Ashwini Vaishnaw
30Aug By adminNo Comments
Business

32 companies apply under PLI IT hardware scheme: Ashwini Vaishnaw

NEW DELHI: As many as 32 companies, including global biggies like HP, Dell and Lenovo, have applied under the Production Linked Incentive scheme for IT hardware, Union minister Ashwini Vaishnaw said on Wednesday. The expected incremental production under the scheme is pegged at Rs 3.35 lakh crore, said Vaishnaw, minister for electronics and IT."India is emerging as a trusted supply chain partner and value added partner ... companies are happy to come to India for manufacturing and design," Vaishnaw said at a media briefing.Overall, 32 applications have been received under PLI for IT hardware scheme so far, Vaishnaw said describing it as a good response. The response is more than anticipated, he said.!(function(f, b, e, v, n, t, s) { function loadFBEvents(isFBCampaignActive) { if...
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Amid tepid utilisation of funds, govt to review PLI scheme on Tuesday
26Jun By adminNo Comments
Business

Amid tepid utilisation of funds, govt to review PLI scheme on Tuesday

The Centre on Tuesday will review its ambitious production-linked incentive (PLI) scheme to sort out teething issues faced by beneficiaries of the scheme, and the focus will mainly be on sectors where the progress has been slower-than-expected. Commerce and industry minister Piyush Goyal will hold the first-of-its kind review meeting that will see officials from all the ministries responsible for rolling out the PLI scheme. The meeting will also see participation from the beneficiaries or the companies participating in the scheme. The Centre has allocated Rs 1.97 trillion towards PLI schemes for 14 key sectors, including telecom, textiles, automobiles, white goods and pharmaceutical drugs, among others. This scheme not only aims to boost domestic manufacturing, but al...
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