The Central Board of Indirect Taxes and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies into Indian currency or vice versa, shall, with effect from 17th September, 2021 for the purpose of the said section, relating to imported and export goods. […]
Indian scientists have developed a new sustainable and affordable solution for converting keratin waste such as human hair, wool, and poultry feathers to fertilizers, pet, and animal feeds. India generates a huge amount of human hair, poultry feather waste, and wool waste each year. These wastes are dumped, buried, used for landfilling, or incinerated, increasing environmental hazards, pollution, and threat to public health and increasing greenhouse gas emissions. […]
A total of 52 companies have filed their application with committed investment of Rs 5,866 crore under the PLI scheme to incentivize the domestic manufacturing of components of White Goods (Air conditioners and LED lights), applications for which closed on 15 September, 2021. The PLI Scheme was notified on 16.04.2021.
Several companies like Daikin, Panasonic, Hitachi, Mettube, Nidec, Voltas, Bluestar, Havells, Amber, EPack, TVS-Lucas, Dixon, R K Lighting, Uniglobus, RadhikaOpto, Syska among others have applied for manufacturing critical components of Air conditioners and LED Lights.
Applications have been filed for production of components which are not manufactured in India presently with sufficient capacity. For Air Conditioners, several companies will be manufacturing compressors, copper tubing, aluminium stock for foils, control assemblies for IDU or ODU, Display units, BLDC motors among other components. Similarly, for LED Lights LED Chip packaging, LED Drivers, LED Engines, LED Light Management Systems, PCBs including metal clad PCBs and Wire wound inductors etc. will be manufactured in India.
The Union Cabinet chaired by Hon’ble Prime Minister has given approval to the Production-Linked Incentive (PLI) Scheme for White Goods (Air Conditioners and LED lights) to be implemented over FY 2021-22 to FY 2028-29 with an outlay of Rs. 6238 Crore on 7th April 2021. The Scheme was notified by DPIIT on 16.04.2021. The Scheme Guidelines were published on 4th June 2021. Online application have been received from 15th June 2021 till 15th September 2021. The selection of applicants will be done within 60 days from the date of closure of application window i.e. by 15.11.2021.
The PLI Scheme on White Goods is designed to create complete component ecosystem for Air Conditioners and LED Lights Industry in India and make India an integral part of the global supply chains. The Scheme shall extend an incentive of 4% to 6% on incremental sales for a period of five (5) years subsequent to the base year and one year of gestation period. Only manufacturing of components of ACs and LED Lights will be incentivized under the Scheme.
The Scheme will incentivize manufacturing of components of ACs and LED Lights. 90% Bill of Material (BoM) of ACs and 87% of BoM of LED Lights are covered under PLI Scheme. It will lead to increase in value addition in Country from 20% to 80-85% and developing a robust component eco-system for AC Industry and LED Lights Industry.
Selection of companies for the Scheme shall be done so as to incentivize manufacturing of components or sub-assemblies which are not manufactured in India presently with sufficient capacity. Mere assembly of finished goods is not being incentivized.
Over the next 5 years, the Scheme is expected to lead to total production of about INR 2,71,000 crore of components of ACs and LEDs. The scheme will bring additional investment in component manufacturing eco-system of ACs and LED Lights industry to the tune of INR 5,886 crore. 31 Companies have committed investments of about Rs 4995 cr for AC Components and 21 Companies have committed investments of Rs 871 cr for LED components.
The scheme will generate approx. 2 lakh direct and indirect employment opportunities in next 5 years.
Domestic Value Addition is expected to grow from the current 15-20% to 75-80%. […]
Shri Jyotiraditya M. Scindia, Union Minister of Civil Aviation, apprised the media about the important features of the PLI Scheme in a press conference here today. He said that under the PLI scheme, incentives of Rs. 120 crore will be given in the next 3 years. This amount is 1.5 times the combined size of the manufacturing drone sector. Over a period of three years, estimated investment worth ₹5,000 Crore for manufacturing sector drones will be done which in turn will bring a turnover of Rs 900 crore, and 10,000 job opportunities will be created. He further added that our objective is to establish India as a global drone hub by 2030 and Ministry of Civil Aviation is committed to facilitate industry, service delivery and consumers in achieving the aforesaid target.
Top 15 Features of the PLI Scheme for Drones, 2021
The total amount allocated for the PLI scheme for drones and drone components is INR 120 crore spread over three financial years. This amount is nearly double the combined turnover of all domestic drone manufacturers in FY 2020-21.
The incentive for a manufacturer of drones and drone components shall be as high as 20% of the value addition made by her.
The value addition shall be calculated as the annual sales revenue from drones and drone components (net of GST) minus the purchase cost (net of GST) of drone and drone components.
The Government, has agreed to keep the PLI rate constant at 20% for all three years, an exceptional treatment given only to the drone industry. In PLI schemes for other sectors, the PLI rate reduces every year.
The proposed tenure of the PLI scheme is three years starting in FY 2021-22. The PLI scheme will be extended or redrafted after studying its impact in consultation with the industry.
The Government has agreed to fix the minimum value addition norm at 40% of net salesfor drones and drone components instead of 50%, another exceptional treatment given to the drone industry. This will allow widening the number of beneficiaries.
The PLI scheme covers a wide variety of drone components:
Airframe, propulsion systems(engine and electric), power systems, batteries and associated components, launch and recovery systems;
Inertial Measurement Unit, Inertial Navigation System, flight control module, ground control station and associated components;
Communications systems (radio frequency, transponders, satellite-based etc.)
Cameras, sensors, spraying systems and related payload etc.;
‘Detect and Avoid’ system, emergency recovery system, trackers etc. and other components critical for safety and security.
The list of eligible components may be expanded by the Government from time to time, as the drone technology evolves.
The Government has agreed to widen the coverage of the incentive scheme to include developers of drone-related IT products also.
The Government has kept the eligibility norm for MSME and startups in terms of annual sales turnover at a nominal level – INR 2 cr (for drones) and INR 50 lakhs (for drone components). This will allow widening the number of beneficiaries.
Eligibility norm for non-MSME companies in terms of annual sales turnover has been kept at INR 4 crore (for drones) and INR 1 crore (for drone components).
The incentive payable to a manufacturer of drones and drone components shall be simply one-fifth of her value addition as illustrated below for a sample year (say, FY 2021-22):
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