Tag: pli scheme

With healthy cash reserves and aided by stronger balance sheets post-Covid, Indian companies are looking to step up their capital expenditure and investment plans. Industry captains and analysts say a mix of factors such as accommodative monetary policy and lower interest rates, reduced corporate tax rates and government incentives such as Production-Linked Incentive (PLI) scheme, global liquidity, and upward commodities cycle are fueling optimism among companies. "Corporates are sitting on cash as profitability has picked up in the post-pandemic period. They are looking to invest in order to capture available opportunities of increased government spending, divestment, consumer demand revival, and export market. PLI scheme and revival of real estate and housing will make a positive impact on the investment cycle. We believe sectors like IT pharma steel, sugar, cement, real estate, and infrastructure will take lead on investment" says an economic expert. Read more

The Department of Telecom today(14th Oct.2021) approved 31 proposals entailing an investment of Rs 3,345 crore over the next four and a half years. "The investment of Rs 3,345 crore in the next 4.5 years is just a beginning. Government is helping you (industry players) as a catalyst," Minister of State for Communications Devusinh Chauhan said. The companies selected for the PLI scheme include Nokia India, HFCL, Dixon Technologies, Flextronics, Foxconn, Coral Telecom, VVDN Technologies, Akashastha Technologies, and GS India. The DoT notified the PLI scheme for telecom and networking products on February 24, 2021, with a financial outlay of Rs 12,195 crore, over the five years. The scheme for telecom gear manufacturing in India is expected to encourage the production of equipment worth Rs 2.44 lakh crore and create direct and indirect employment for about 40,000 people. Read more

The cabinet today(8th September 2021) approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for the textiles sector with an aim to boost domestic manufacturing and exports. The decision was taken in a meeting which was chaired by Prime Minister Narendra Modi here. The PLI scheme is for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles with a budgetary outlay of Rs 10,683 crore. This scheme is part of the overall announcement of the scheme for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs 1.97 lakh crore. Incentives worth Rs 10,683 crore will be provided over 5 years, said Union Minister Anurag Thakur. The government expects investments of more than Rs 19,000 crore into the sector during the five-year period. Read more