Reliance Industries is making progress towards its goal of producing green hydrogen at a cost of $1-1.5 per kilogram. The company has secured product-linked incentives in the renewable energy sector, including for solar modules and advanced chemistry cell battery storage. These incentives are expected to help RIL achieve its target cost.
Interim Budget: India s manufacturing sector is being reinvented to achieve the country s ambition of becoming a $10 trillion economy. The Production Linked Incentives (PLI) scheme has played a strategic role in elevating India s manufacturing capabilities and attracting global companies. The scheme has already shown success in sectors like electronics, pharmaceuticals, and telecom. To further drive innovation, the government should extend PLI benefits to R&D investments. A dedicated PLI scheme for the chemicals sector could boost its growth and position India as a global hub. Additionally, a PLI scheme for the space sector could help India become a global leader in space technology.
The disbursed incentive amount under the scheme stands at Rs 4,415 crore across eight sectors, including large-scale electronics manufacturing, IT hardware, bulk drugs, food processing, and drones.
The government in 2021 announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, etc.