The production-linked incentive (PLI) scheme that seeks to push domestic manufacturing in as many as 14 sectors has the potential to generate additional revenue worth Rs 35-40 lakh crore over the next five years, a report said.
Capital expenditure in industrial sectors is expected to rise 45-55 per cent in financial year 2021-22 as the economy gains from a government s scheme to boost productivity, said a report by Crisil Research on Tuesday. The India Outlook Report expects gross domestic product (GDP) growth to be at 11 per cent in fiscal 2022, after an estimated 8 per cent contraction this fiscal. The next fiscal, like the current, will have a low base “optical” growth in the first half and a rebound in the second. The capex rise in pharmaceuticals, chemicals, textiles, cement, auto and ancillary, metals and oil and gas will come on the back of a 35 per cent contraction in capex in the current fiscal. It will be driven by core sectors and the government’s productivity linked incentive (PLI) scheme. Led by the oil and gas, that accounted for 30-32 per cent, close to 16000 manufacturing companies spent Rs3-3.5 trillion on capex annually over the past three years.
Read more about PLI scheme can generate Rs 35-40 tn incremental revenue in 5 yrs: Report on Business Standard. PLI scheme that seeks to push domestic manufacturing in as many as 14 sectors has the potential to generate additional revenue worth Rs 35-40 lakh crore over the next five years, a report said.
There was a strong business case to buy spectrum: Ravi Shankar Prasad
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After the end of 4G spectrum auctions, Union telecommunications and IT minister Ravi Shankar Prasad said, with the sale now over, operators must focus less on legal battles and more on providing quality services given that the sector has stabilised.
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In his first interview after the end of 4G spectrum auctions, Union telecommunications and IT minister Ravi Shankar Prasad said, with the sale now over, operators must focus less on legal battles and more on providing quality services given that the sector has stabilised. Speaking to
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While companies are sourcing more from Southeast Asian nations such as Vietnam, India could stand to gain from this shift.
Synopsis
India is an important local manufacturing centre for Schneider, having recently turned one of its factories into a Smart Factory. The company produces goods worth more than one billion euros here, about half of which are exported. Honeywell, which leveraged its India units to meet demand for masks to tackle Covid, is exploring more local options.
Global automation firms such as Schneider Electric and Honeywell are expected to manufacture more products locally to meet the sourcing requirements of clients in India.