Photograph by Rajwant Rawat
On March 10, the $274 billion, Cupertino, California-based Apple Inc. announced it is starting production of the 5G-compatible iPhone 12 in India. It appeared like a routine announcement. After all, Apple has been assembling older generation iPhones in India through contract manufacturers since 2017. It wasn t.
It might have been a small step for Apple but was a giant leap for Indian manufacturing. India s new Production Linked Incentive (PLI) Scheme to reduce import dependence and promote local manufacturing had lured three of Apple s Taiwanese original equipment manufacturers - Foxconnn Hon Hai, Wistron and Pegatron - to pump in millions of dollars to expand Indian facilities. They will move a step up from assembling imported parts here to making or sourcing more components locally. Like Apple, about 70 firms have shown interest in availing the PLI Scheme to set up manufacturing facilities in three key sectors: mobile and electronic components; pharma
Pharma Sector: Approvals Accorded Under PLI Scheme For Rs 348 Crore Investment In Drug Intermediates And APIs
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In a boost to local manufacturing and reduce import dependence, approvals have been accorded to 16 applicants under Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing of critical Key Starting Materials (KSMs)/ Drug Intermediates and Active Pharmaceutical Ingredients (APIs) in the country.
The setting up of these 16 plants will lead to a total committed investment of Rs 348.70 crore and employment generation of about 3,042 by the companies.
The commercial production of these plants is projected to commence from 1 April, 2023 onward, the Ministry of Chemicals and Fertilizers said in a statement.
Aarti Speciality Chemicals, a wholly-owned subsidiary of Aarti Drugs has received an approval accorded under Production Linked Incentive (PLI) scheme for pharmaceutical sector.
Government of India s Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers recently launched a Production Linked Incentive (PLI) scheme to promote domestic manufacturing by incentivising pharmaceutical manufacturers to set-up greenfield projects in India with a minimum domestic value addition in four different target segments (Two in Fermentation based - at least 90% and Two in the Chemical Synthesis based - at least 70%) with a total outlay of Rs 6,940 crore.
The objective of the scheme is achieving self-reliance and reducing import dependence in these critical Key Starting Materials (KSMs)/ Drug Intermediates/ Active Pharmaceutical Ingredients (APIs) in the country. The tenure of the scheme is from FY21 to FY30.
Moderate gains seen at open, but crude, FPI flow to anchor direction
March 08, 2021
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Asian markets in early trade on Monday are up 0.5-1.5%; US markets on Friday closed up 1.55-2%; analysts fear the market may see volatility
The Indian stock markets, after falling a couple of days, are expected to open on a positive note on Monday, thanks to global markets. The SGX Nifty, ruling at 15,080, points to a 130-point gain for Nifty futures, which on Friday closed at 14,953 on the NSE.
Asian markets in early trade on Monday are up in the range of between 0.5 and 1.5 per cent. Australian indices are ruling with the biggest gains on Monday, while China, Japan and Taiwan too are firm. The US markets on Friday too closed up 1.55-2 per cent.
Aarti Speciality Chemicals, a wholly-owned subsidiary of Aarti Drugs (Aarti Drugs), stands out to be one of the beneficiaries of the Government of India s recently approved Production Linked Incentive (PLI) for the Pharmaceutical Sector.
Government of India s Department of Pharmaceuticals under the Ministry of Chemicals and Fertilizers recently launched a Production Linked Incentive (PLI) Scheme to promote domestic manufacturing by incentivising pharmaceutical manufacturers to set-up greenfield projects in India with a minimum domestic value addition in four different target segments (Two in Fermentation based - at least 90% and Two in the Chemical Synthesis based - at least 70%) with a total outlay of Rs. 6,940 crores. The objective of the scheme is achieving self-reliance and reducing import dependence in these critical Key Starting Materials (KSMs)/ Drug Intermediates/ Active Pharmaceutical Ingredients (APIs) in the country.