PLI

Image Used for Representational PurposeVarious brands including the EV start-ups, luxury automakers, and even tyre manufacturers have their share of expectations from the Union Budget 2023The Union Budget 2023 will be presented on February 1 in the Parliament by Nirmala Sitharaman, Minister of Finance, Government of India. Identical to every sector, the auto industry too has certain expectations from the budget. This includes the emerging electric two-wheeler and four-wheeler brands, luxury automakers, as well as…

Samsung Electronics is struggling to collect manufacturing incentives it considers it's owed by India, highlighting the sometimes complicated nature of such government programs.The smartphone giant's India unit is seeking just under Rs. 900 crore in incentives for the fiscal year through March 2021, people familiar with the matter said. But the government is only willing to give the South Korean firm Rs. 165 crore unless it can provide more information and documents to support its claim, the people said, asking not to be…

NEW DELHI : Mobile phone exports from India may reach $9-10 billion levels in FY23 led by Samsung and Apple, industry insiders and experts said. Over the last couple of months, exports have been touching $1 billion a month, and the…

The government has said that it has approved the incentives for two companies — Foxconn India and Padget Electronics — for mobile manufacturing under the production-linked incentive (PLI) scheme for the large-scale electronics manufacturing (LSEM) sector.According to a statement from NITI Aayog, the Empowered Committee headed by NITI Aayog Chief Executive Officer Param Iyer approved incentives for two companies — one a domestic company and the other a global company — for mobile manufacturing under the production-linked…

On the lines of the Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC) battery storage for electric vehicles (EV), the government should consider another PLI for battery components, feel industry expertsIn a survey by ACKO and YouGov India, about 66% of Indians said that EVs will surpass petrol and diesel vehicles by 2030. Also, 57% of the consumers in the country want to invest in EVs because of their practical benefits, while 56% want to purchase an EV because of its eco-friendly…

To encourage startups and companies with financial limitations, the new scheme is not expected to have any minimum investment parameter.New Delhi: In a bid to encourage research on new technologies and innovations, the central government is likely to notify another Production Linked Incentive (PLI) scheme for more advanced EV battery technologies. The scheme is scheduled to be notified in a fortnight, and launch is expected by December this year.ETAuto has learnt that at least 6 companies are in discussions with the…

A comprehensive policy for the space sector, the introduction of a production linked incentive (PLI) scheme, and the promotion of independent launch solutions for private sector satellites are needed for the sector, states a sectoral report.The report, titled "Developing the space ecosystem in India: focusing on inclusive growth", was prepared by the Indian Space Association (ISpA) and EY.The report has suggested, among others, the following: (a) drafting of a comprehensive space policy covering upstream and downstream…

India's semiconductor component market is likel to reach $300 billion in cumulative revenues by 2026, as 'Make in India' and production-linked incentive (PLI) schemes will boost local sourcing of semi-components in the coming years, a new report said.Mobile and wearables, IT and industrial segments currently contribute around 80 per cent of the semiconductor revenues in the country in 2021.Further policy reforms and building of a semiconductor ecosystem will reduce reliance on imports going forward, according to the…

The phased manufacturing programme and the production-linked incentive scheme have gone a long way to cut mobile imports that fell by 33 percent in fiscal 2022, and pushed local production up by around 26 percent during the year, says a report.A Crisil report said that local production of mobile phones has been logging in a 33 percent annual growth rate between fiscals 2016 and 2021, the pace of which slowed a tad in FY22 to 24-26 percent.This growth is in spite of the ongoing chip shortage, and three of the global…

The second provisional list of 23 recipients for the Production-Linked Incentive (PLI) Scheme for drones and drone parts has been made public by the Ministry of Civil Aviation (MoCA). As per the ministry, 12 drone producers and 11 drone component producers are included in the list. The ministry issued an application invitation to qualified manufacturers on May 4 this year and the deadline for submission was May 20. However, the unaudited financial figures for 2021–2022 and other data were used to create the tentative list…