IN EARLY 2021, when the government was planning to extend the production-linked incentive (PLI) scheme that it introduced in 2020, India’s air-conditioner (AC) manufacturers met Guruprasad Mohapatra (since deceased), then secretary of the Department for Promotion of Industry and Internal Trade (DPIIT). The delegation, led by Kanwaljeet Jawa, MD & CEO of Daikin Airconditioning India and President of the Refrigerator and Air Conditioner Manufacturers Association, sought a slice of the flagship scheme to make India self-sufficient in AC manufacturing. Soon after, stakeholders like NITI Aayog, Invest India and the commerce ministry were roped in. By early-November 2021, 26 companies—including Blue Star, Havells, Voltas, Johnson Controls-Hitachi, and Daikin—secured approvals on their investment proposals, and things started to move.
This example showcases the government’s desire to engage with industry in finding ways to make a complex, and critical, scheme work. Designed to incentivise manufacturing across 14 sectors, PLI has become a rallying point for the government’s desire to promote local manufacturing and turn India into a global exports hub. The fundamental premise is for manufacturers to pump in money to increase production in their factories (new or old), and then for the government to pay back a share of the value of incremental production over a five-year period. In the process, the government hopes to create 6 million jobs between 2021-22 and 2026-27 (per a written submission in the Rajya Sabha by Rameswar Teli, Union Minister of State for Labour and Employment) and add more muscle to India’s GDP.
Denne historien er fra July 09, 2023-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra July 09, 2023-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky
