The scheme will contribute towards reducing carbon emissions and oil imports with local manufacturing
The revised PLI Scheme announced by the Centre on Wednesday would give the right impetus for auto industry to move faster towards future technologies, TVS Motor Chairman Venu Srinivasan said.
Incentives worth Rs 26,058 crore will be provided to industry over five years
Govt officials say they are cautious as they don't want to be trapped in the WTO quagmire
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The government is believed to have slashed the outlay for this PLI scheme to about Rs 26,000 crore: report
The textile sector is worried about the stringent parameters, including the Rs 600-crore turnover and targets of additional incremental turnover of 25 per cent over the preceding year
The shares of textile sector have witnessed renewed buying interest by market participants after the Union Cabinet approved the production-linked incentive (PLI) scheme on Wednesday.
The scheme will attract fresh investment of over Rs 19,000 crore, a cumulative turnover of over Rs 3 trillion
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The government is believed to have slashed the outlay for the automobile sector under the production-linked incentive (PLI) scheme to about Rs 26,000 crore
The cabinet has approved the PLI scheme for textiles for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles
Top Nifty gainers included Kotak Mahindra Bank, Powergrid, Grasim and BPCL, among others
After the approval, the textiles ministry would come with detailed guidelines of the scheme for these sectors
The prime objective of the scheme is to make manufacturing in India globally-competitive by removing sectoral disabilities, creating economies of scale and ensuring efficiencies
Saion Mukherjee says the market is already factoring in earnings recovery from the June 2021 quarter
Goyal says PLI and mega textile parks scheme to be approved soon
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'We must aim for a $100 billion export target in the next five years,' says Textiles Minister
Total revenue for all Lenovo Group businesses in India was approximately $462 million for the quarter ended June 30, 2021