Beware the quantum computers
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
Piyush Goyal - -
Continuing with its effort to ramp up domestic manufacturing, the Cabinet on Wednesday cleared two more production-linked incentive schemes — for high-efficiency solar photo-voltaic modules and white goods — with an outlay of ₹10,738 crore for five years.
For the white goods segment — air conditioners and LED lights — the scheme has been approved with an outlay of ₹6,238 crore, while the PLI scheme for the high-efficiency solar PV modules gets ₹4,500 crore.
Addressing mediapersons after the Cabinet meeting, Commerce and Industry Minister Piyush Goyal said, “DIPPT and the MNRE will come out with detailed guidelines about the implementation of the PLI schemes.”
“The solar PLI scheme will lead to an annual addition of around 10,000 MW in the country’s manufacturing capacity and spur direct investments of around ₹17,200 crore,” Goyal added.
To make India globally competitive in manufacturing ACs and LED lights segments, the government said the PLI scheme will lead to incremental investments of ₹7,920 crore and incremental production worth ₹1,68,000 crore. It is expected to create four lakh direct and indirect jobs. Incentives shall be open to companies making brownfield or greenfield investments. The scheme will offer incentives of 4-6 per cent on incremental sales of goods manufactured in India for five years.
“One of the key pillars to drive up manufacturing and exports is backward integration. As component manufacturing is a key beneficiary of the new policy, indigenous AC manufacturing will get a fillip,” said Manish Sharma, President & CEO, Panasonic India & South Asia and Chair of FICCI’s Electronics & Manufacturing Committee.
The government said that solar PV manufacturers will be selected through a transparent competitive bidding process to get benefits under the scheme. “PLI will be disbursed for 5 years post commissioning of solar PV manufacturing plants, on sales of high efficiency solar PV modules. Manufacturers will be rewarded for higher efficiencies of solar PV modules and also for sourcing material from the domestic market...,” a statement added.
“Incentives for high-efficiency solar module manufacturing have been a long-standing ask,” said Pranav R Mehta, National Solar Energy Federation of India. “We will be working closely with international/national investors and Indian manufacturers to facilitate investments to scale up manufacturing,” he said.
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
Rocketship’s Anand Rajaraman on getting pitches from places like Rameswaram and Patna
Bengaluru-based Archeron group plans to open five banks that are run entirely by AI and quantum technologies
Ably skippered by N Srinivasan, India Cements is upping its post-Covid-19 game by expanding capacity
Three-in-one: Passive debt funds come at a low cost and have high-quality portfolios. Some offer return ...
Trend in the rupee movement and Q4 earnings can give direction to the market
There is room for improvement in fund transfer options
Silver looks positive but lacks the higher volumes required to substantiate bullishness
Murder is a theme that is unlikely to darken and yellow with time, the writer Truman Capote had once said.
On Ugadi, the Telugu New Year Day, a chronicler recalls slices of an isolated year gone by and realises that ...
In her novel based on the life of Rani Jindan Kaur, author Chitra Banerjee Divakaruni crafts a hero for the ...
A domineering father, three resentful sons and a vile plan — director Dileesh Pothan, screenwriter Syam ...
Marketers are padded up, sponsorship deals have been struck, and campaigns are rolling out. Now let the games ...
And what marketers can possibly do to bring it back in our lives
The agency has changed form over the years but its lustre has not dimmed
Media Factory has purchased the majority stake held by Sam and Lara Balsara of Madison World in Madison Media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...