PLI timeline for mobile phone manufacturing may begin in FY22
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A change in the timeline will mean manufacturers need to post incremental production worth Rs 4,000 crore in this fiscal year, instead of Rs 8,000 crore in the second year. They will thus be able to avail of maximum incentives worth 6% during the year, experts said.
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The Centre is looking to make the country a global manufacturing hub with an export target for phones worth $100 billion over the next five years.
The government is considering making FY22 the first year of production instead of FY21 for the production-linked incentive (PLI) scheme for mobile phone manufacturing, senior government officials said. If approved, the move will bring relief to the likes of iPhone contract makers Foxconn and Wistron besides homegrown brands
Rule tweaks on import of raw materials, finished goods to help ease local manufacturing
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Last Updated: May 25, 2021, 07:26 PM IST
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The Central Board of Indirect Taxes and Customs (CBIC), in a circular dated May 17, notified the amendments related to job-work which were announced in this year’s Budget and made effective from February 2. As per the new norms, all importers and manufacturers are now allowed to get finished goods (100% outsourced) and intermediate goods (partially outsourced) manufactured on a job-work basis.
Agencies
As per the new norms, all importers and manufacturers are now allowed to get finished goods (100% outsourced) and intermediate goods (partially outsourced) manufactured on a job-work basis.
Incentive scheme in 6 months for 3-4 large investments to set up fabless display units: IT Secy indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Chip shortage hits personal computing device supply in India
May 08, 2021
Goldman Sachs estimates at least 169 industries faced disruptions as a result of the shortages The impact of the global shortage of semiconductors has started impacting availability of personal computers and laptops in India by 5 to 10 per cent. However, there is negligible impact on the mobile phone market as vendors have stocked up products to cater to the large Indian market.
Faizal Kawooza, founder of market research and analytics firm techARC said, “Before March, semiconductor shortage was a topic of speculation with not many brands admitting that there is a shortage. But after March I am hearing major brands openly admit that semiconductor shortage is an issue that they are going to face in the future.”
Dell, Foxconn, Lava apply under PLI scheme for IT hardware prokerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prokerala.com Daily Mail and Mail on Sunday newspapers.