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Govt set to roll out auto incentives in next FY, posing challenges for electric vehicle leaders
Despite initial skepticism from automakers about meeting the incentive claim process within the current year, the scheme, first notified in 2021, is expected to bring certainty to its 67 autoparts-making applicants.Read more
India eyes duty concessions on EVs through bilateral FTAs, ruling out Across-the-Board cuts
The preference for FTAs arises from the challenge of implementing a uniform duty cut for all companies, making bilateral agreements more viable.Read more
Govt halts expansion of PLI Scheme, focusing on strengthening existing sectors
It is anticipated that a decision on enlarging the list of sectors eligible for incentives to bolster domestic manufacturing capabilities will be deferred until the formation of a new central government next year.Read more
Major companies vie for India's Green Hydrogen, Electrolyser incentives
20 firms, such as Reliance Industries, Adani Group, Jindal India, Larsen & Toubro, and Bharat Heavy Electricals, have presented bids for incentives related to the manufacturing of electrolysers, according to statements from the Solar Energy Corp of India.Read more
Dana unveils cutting-edge drivetrain solutions at EXCON 2023
The trade fair, focusing on electrification in the construction industry, provided a platform for Dana to unveil customised solutions supporting both conventional and electrified power sources.Read more
Corning Inc invests Rs 10 bn in Tamil Nadu for Apple supplier manufacturing facility
The new facility will be situated in Pillaipakkam, near Sriperumbudur, on a 25-acre plot, with the option for expansion as needed.Read more
Apple's 'Make in India' triumph, exceeds Rs 600 bn iPhone assembly target in FY24 Q1
The data is sourced from reports submitted by the three key vendors—Foxconn, Pegatron, and the recently acquired Wistron by the Tatas—to both the central and state governments.Read more
Govt officials laud PLI Scheme success across industries, DPDP rules finalised soon
Secretary S Krishnan announced that the Digital Personal Data Protection (DPDP) rules would be finalized in a few weeks, emphasizing that the DPDP Act strikes a balance between regulation and the security of personal data, fostering innovation.Read more
Flender Wins Prestigious Excellence Award from Caterpillar Inc
Flender supplies new gearboxes, remanufactured gearboxes, spare parts, and couplings to Caterpillar for their 7495 Rope Shovel.Read more
PLI disbursements set to surge in Q4, may fall short of Rs 11,000 cr target though
Out of the total outlay of Rs 1.97 trillion for the PLI scheme initiated in 2020, Rs 2,900 crore was allocated to selected companies to meet production targets last year.Read more