This rise is largely attributed to favourable government policies like the Production Linked Incentive (PLI) scheme, which covers 14 sectors, and the global shift towards the "China + 1" strategy, where manufacturers diversify supply chains away from China.
Gensol Engineering, in collaboration with Matrix Gas & Renewables, emerged as a winner for a 237 MW annual capacity bidding under the Production Linked Incentive (PLI) scheme for setting up an electrolyser manufacturing plant.
A special online portal to fast-track visas for Production Linked Incentive (PLI) schemes has been kick-started by the Ministry of Home Affairs, a government official told ANI.
As of June end, a cumulative investment of Rs 8282 crore by 32 companies is done under the Production-linked incentive (PLI) scheme for large-scale electronics manufacturing in the country. The Minister of State for Electronics and Information Technology, Jitin Prasada informed the Lok Sabha
The foreign direct inflows in India will continue to surge as long as the "China plus one" strategy combined with the production linked incentive (PLI) schemes are working, highlights a report by Jefferies, an investment banking and capital markets firm.
The Production Linked Incentive (PLI) scheme has been instrumental in augmenting India's manufacturing capacity by attracting fresh investments and facilitating substantial economic activity.
The Production-Linked Incentive (PLI) Scheme for drones and drone components is a Kickstarter for the sector to progress and should not be considered as a permanent subsidy scheme by the government, highlighted Union Minister Piyush Goyal.
Speaking with ANI, CII President R Dinesh suggested that the government come up with employment-linked incentive schemes, in line with the Production Linked incentive (PLI) schemes which the government has launched for several sectors.
International Centre for Automotive Technology (ICAT), Manesar, which is one of the divisions of the National Automotive Board (NAB) under the Ministry of Heavy Industries has awarded its first PLI - Automotive Certificate to Ola Electric Technologies under the Production Linked Incentive (P
Union Minister of Commerce and Industry Piyush Goyal encouraged industry's constructive feedback and collaborative engagement to shape the policies, procedures, and effectiveness of the Production-Linked Incentive (PLI) scheme.
The central government has slashed import duty on several key components used in the production of mobile phones, in a bid to boost the country's electronics exports.
Production-linked incentive (PLI) schemes witnessed over Rs 1.03 lakh crore of investment till November 2023, which has led to production or sales of Rs 8.61 lakh crore and employment generation (direct and indirect) of over 6.78 lakhs.