PLI Scheme

Apple has reportedly achieved a significant milestone of exporting the ‘made in India’ iPhones which was worth more than Rs. 16,500 crore (approximately USD 2 billion) in the first 2 months of the ongoing financial year (FY25).

Foxconn is doubling down on its India plans. The Taiwanese electronic components major is all set to make another big-ticket investment in India. This time, one of its subsidiaries, FII is planning to invest 200 mn dollars in the country. Foxconn wants to make electronic components in a brand-new plant in Tamilnadu. According to Reuters, the subsidiary is already in talks with the government.

India is going from strength to strength in the electronics manufacturing sector. Already the 2nd biggest mobile phone manufacturer in the world, India has crossed the 100 billion dollar landmark in electronics manufacturing. Earlier this year India became the world's second-largest mobile phone manufacturer thanks to the Production Linked Incentive (PLI) programme for the industry. The Economic Survey said that the number of handsets produced increased from 6 crore units in FY15 to 31 crore units in FY22.

Over the next five years, DPIIT expects the PLI scheme to lead to total production of about Rs2.7 trillion worth of components for ACs and LEDs, and generate about 2 lakh direct and indirect employment opportunities

It's a great stimulator not only for the steel sector but also other sectors to push manufacturing activity in IndiaFocusing on what India is not producing, we should create the capability to reduce imports

Calling for cooperation to take the benefits of the government initiatives to all the farmers, Food Processing Industries Minister Narendra Singh Tomar said the government is working on these initiatives in a planned manner

Hetero Drugs, as well as Dasami Labs Pvt Ltd, was selected to get incentives for manufacturing the anti-epilepsy drug oxcarbazepineSo far, the government has chosen a total of 33 applications with committed investment of ₹5082.65 crore under the PLI Scheme for active pharmaceutical ingredients

Gowda said the Budget has provided a boost to the Indian pharmaceutical sector

The PLI scheme for medical devices will help meet the objective of product diversification and production of innovative and high value medical devices in India

Union Cabinet on Wednesday approved a proposal to provide production-linked incentives of about ₹2 lakh crore over five years to create jobs and boost manufacturing in the country, the finance minister said. The incentives will be given to manufacturers in 10 sectors including automobiles and auto parts, pharmaceuticals, textiles, and food products to attract investment, Nirmala Sitharaman said. The scheme has been designed to ensure that 'critical sunrise sectors get the necessary support from the government so we are able to build an India which is strong enough to serve the domestic market and link up with the global value chain,' Sitharaman said. Watch the full video for more details