Government Plans Rs 12,000 Crore PLI Scheme to Boost Domestic Manufacturing of Heavy Machinery

Government working on Rs 12,000 crore PLI scheme for heavy machinery used in mining and construction sectors
Scheme aims to boost domestic manufacturing and reduce imports of equipment like excavators, loaders, drills, etc.
To attract investments, incentivize production of machinery and components currently imported
Scheme to help meet rising infrastructure growth needs and boost underground coal mining
Industry estimates scheme will bring $4 billion investment, $2.9 billion forex savings, $3 billion exports by 2030

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9/6/2023

India’s manufacturers cash in as brands seek refuge from US-China tensions

Indian firm Dixon Technologies is capitalising on Prime Minister Narendra Modi's push to boost manufacturing in the country, as global brands seek to diversify their suppliers away from China amid political uncertainty and tensions between Washington and Beijing. Dixon, which assembles smartphones for Motorola, is producing 500,000 units a month and has plans to expand its plant to meet increasing demand. The Modi government's Production Linked Incentive (PLI) scheme offers cash incentives to firms in various industries, including electronics, to boost manufacturing in India.