Energising solar module manufacture
India is aiming to get back on the global solar manufacturing map. - BusinessLine×
The recently announced PLI scheme for this sector must be dovetailed with the host of other incentives, especially for MSMEs
As part of its move to incentivise the domestic industry and make the country ‘Atamnirbhar’, the Union Cabinet earlier this month approved the proposal of the Ministry of New and Renewable Energy (MNRE) for a Production Linked Incentive (PLI) scheme called the ‘National Programme on High Efficiency Solar PV (Photo Voltaic) Modules’.
Commerce Minister Piyush Goyal, while announcing the decision, had said that this is for achieving manufacturing capacity of Giga Watt (GW) scale in high efficiency solar PV modules, with an outlay of ₹4,500 crore. Solar capacity addition presently depends largely upon imported solar PV cells and modules as the domestic industry has limited operational capacities of solar PV cells and modules. T
Quest to Be the World s Factory
With total incentives committed going as high as Rs 1.99 lakh crore over five years, PLIs now rival some of the biggest Government of India outlays such as Rs 3.05 lakh crore for reforms-based result-linked power distribution sector scheme and the Rs 1.4
Rajeev Dubey, Editor, Business Today
The Production Linked Incentive (PLI) Scheme - India s valiant answer to domestic and foreign manufacturers eternal gripe that producing in India was hopelessly unviable because of high taxes, high cost of logistics, finance, land, power and an endless list thereafter - was introduced for mobile manufacturers in 2020.
The Government of India s commitment to provide cash incentives up to 4-6 per cent of revenue from incremental local manufacturing aimed at import substitution got such an excitable response from companies that the Centre made mobile PLI the template to launch it in 12 other sectors. With total incentives committed going as high as Rs 1.99 lakh c
Photograph by Rajwant Rawat
On March 10, the $274 billion, Cupertino, California-based Apple Inc. announced it is starting production of the 5G-compatible iPhone 12 in India. It appeared like a routine announcement. After all, Apple has been assembling older generation iPhones in India through contract manufacturers since 2017. It wasn t.
It might have been a small step for Apple but was a giant leap for Indian manufacturing. India s new Production Linked Incentive (PLI) Scheme to reduce import dependence and promote local manufacturing had lured three of Apple s Taiwanese original equipment manufacturers - Foxconnn Hon Hai, Wistron and Pegatron - to pump in millions of dollars to expand Indian facilities. They will move a step up from assembling imported parts here to making or sourcing more components locally. Like Apple, about 70 firms have shown interest in availing the PLI Scheme to set up manufacturing facilities in three key sectors: mobile and electronic components; pharma
LIC betting on old economy stocks
Buys shares worth ₹3,000 crore in at least 15 companies
The biggest domestic institutional investor LIC has upped holdings in at least 15 companies by buying shares worth ₹3,000 crore during January-March quarter even as markets rose nearly 4 per cent.
LIC has hiked stakes in old economy sector companies such as those involved in manufacture of cement, auto ancillaries, chemicals, energy and paints. However, it also appears to have booked profits partly in select PSU bank stocks, Tata Steel and TCS etc., many of whom had seen a healthy rise in price during the aforementioned quarter.
One per cent stake