To incentivise the manufacturing sector and generate employment, the government may extend the scope of PLI scheme to include sectors like garments, jewellery and handicrafts in the forthcoming interim Budget, Deloitte said. Currently, Production-Linked Incentive (PLI) scheme is available for 14 sectors. Read our full Budget 2024 coverage here Deloitte India Partner Rajat Wahi said … Read more
In March, India announced a list of battery makers that would receive a coveted state subsidy. Locally manufactured cells for electric vehicles would trigger almost $6 billion in investments, build a supply chain at home, cut $30 billion in energy imports and be a “major boost” to Prime Minister Narendra Modi’s Make in India project, … Read more
NITI Aayog on Tuesday sought to dispel the fear that India is favouring a closed economy by promoting ‘Atmanirbhar’ mission, and said the country can achieve better results for its people by having a deeper engagement with the global supply and value chain. Inviting Japanese investors to set up companies in India on a larger … Read more
New Delhi: Commerce secretary BVR Subrahmanyam on Saturday said areas where India’s manufacturing is growing and sectors wherein the government has rolled out production-linked incentive (PLI) schemes have been put on the negative list in the trade pact with the United Arab Emirates (UAE). To protect sensitive sectors, India has kept certain segments out of … Read more
The drone PLI scheme which got the Cabinet approval yesterday will revolutionise the way business is conducted and impact many Indians and make their lives convenient. Drones can be used not just for delivering essential medical supplies to key areas that are inaccessible by road but also agricultural produce can be directly supplied to nearby … Read more
The government is looking at notifying the production-linked incentive (PLI) scheme, that was announced to boost domestic manufacturing, for sectors like auto components, steel, and textiles. Additional Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sumita Dawra said that the government introduced the PLI scheme to encourage an incentive-led model for … Read more
PLI is designed to identify and support upcoming technologies that are indicative of the largest economic opportunities of the next few decades. Synopsis In an increasingly interconnected world, manufacturing has been transformed into a series of dependent processes across countries, which together form large GSCs. With GSCs slowly shifting towards the East, and due to … Read more
The government is considering launching a production linked incentive (PLI) scheme in the chemical sector to boost domestic manufacturing and exports. Addressing a webinar on ‘Implementation Strategy of Budget Announcement 2021-22′, Chemicals and Fertilisers Minister D V Sadananda Gowda on Friday said the government is working on a consultative approach in forming the policies for … Read more
Compared with last two Budgets, which were record-breaking in terms of duration, this first-ever paperless Budget was precise and purposeful. No wonder, the stock market reaction has been ‘like never before’, with Nifty closing nearly five per cent higher. In a rare contraction year for the Indian economy, having witnessed de-growth only twice previously, the … Read more
NEW DELHI: India will soon introduce production-linked incentive schemes for nine to 10 sectors to encourage local manufacturing, although the tariff support offered will be limited, Niti Aayog vice chairman Rajiv Kumar said. “Incentivising domestic and global investors through the PLI scheme will be done while respecting multilateral trade norms and any tariff support will … Read more