Sticking to the plan: Government retains production-linked incentive targets, timelines
Companies say because of the delay in announcement of reward, the window for achieving the PLI targets is actually January-March because capacity expansion and winning contracts will at least need two-three months, making it a challenge especially for certain domestic players who are starting from a scratch.
Govt to offer incentives for Affordable Rental Housing Complexes development: Housing Minister Puri
A total of 24 states and union territorie...
Smartphone makers miffed over delay in roll out of production-linked incentive scheme
Officials blame the delay on a confusion over whether e...
Government planning incentives worth $23 billion to boost manufacturing
Prime Minister Narendra Modi’s government will offer production-linked incentives to automobile manufacturers, solar panel makers, and specialty steel to consumer appliance companies, according to documents reviewed by Bloomberg News.
Japan to offer incentives to companies shifting base from China to India: Nikkei
Japan has added India and Bangladesh to the list of relocation destinations for companies which shift their manufacturing sites from China to ASEAN countries.
Govt proposes special tax incentives for FPIs choosing Gift City over Singapore & Mauritius
As a part of the Taxation and Other Laws Bill tabled in the Parliament, the Government has proposed to introduce a new regime for taxation of off-shore funds choosing Gift City. As per the proposed changes, profits and business income earned by such funds from Gift City will be tax exempt.
Stressed assets market can flourish with incentives and price discovery: CEA Subramanian
India's stressed assets market is estimated at $115 billion.
Exports incentive scheme MEIS inefficient, failed to deliver, to be wound up by year end
Government sources said the liability under Merchandise Export from India Scheme ballooned from Rs 20,000 crore to about Rs 45,000 crore in FY20 “reaching an unsustainable level”.
Government clears 16 companies for product-linked incentive scheme
Out of these, 3 companies namely Foxconn Hon Hai, Wistron and Pegatron are contract manufacturers for Apple iPhones. Apple (37%) and Samsung (22%) together account for nearly 60% of global sales revenue of mobile phones and this scheme is expected to increase their manufacturing base manifold in the country.
Govt to give incentives to boost domestic solar industry: Minister
Speaking at an event organised by the Ministry of New and Renewable Energy and NITI Aayog, Singh also said that despite a hiccup in the construction of projects due to COVID-19, new bids worth 12,000 MW were finalised since March from both international as well as Indian players.
View: The problems with India's production-linked incentive scheme and how to fix them
It’s difficult to build a manufacturing nucleus around R&D of semiconductors and compete with MNCs overnight, including high-value components like displays, camera modules and memory chips to be part of India’s manufacturing nucleus — as opposed to assembly and packaging, which is quite doable.
Andhra announces new industrial policy with key fiscal incentives, also offers support services
In a statement, the government said the new multi-faceted capability center to be set up in the state titled ‘YSR AP One’ will seek to offer support services to the new units on par with advanced countries. The specialized services include entrepreneurship facilitation, sales support and MSME (micro, small and medium enterprises) revitalization.
Telangana lures industry with incentives to hire more locals in skilled and semi-skilled jobs
The Telangana council of ministers has proposed to offer the industry additional incentives like VAT, GST, SGST, and lower electricity tariffs. To be eligible for the government’s increased incentives, the industry should hire the locals up to 70% in semiskilled and 50% in skilled jobs in the Category-I and up to 80% semi-skilled and 60% skilled jobs in the Category-II.
Eye on migrant employment, UP to give sops to industries willing to invest in backward regions
Under the 'Post Covid-19 Accelerated Investment Promotion Policy for Backward Regions', industrial undertakings will be eligible for 70% reimbursement of net SGST for 12 years in Madhyanchal or central UP subject to 200% of capital investment made during the policy period and 15 years in Purvanchal and Bundelkhand subject to 300% of the capital investment made.
UAE to provide incentives to Indian healthcare firms with strong R&D facilities: Envoy
Pavan Kapoor, Ambassador of India to the UAE, drew attention toward close collaboration between the two countries during Covid times and stated that the UAE side had shown a strong desire for setting up manufacturing facilities for vaccines and generic medicines by Indian companies having strong R&D facilities.