PLI Scheme Expected to Draw Rs 3.4 Tn Investments in 4 Years: ICRA

14 Jun 2024 CW Team

According to ICRA, the Production Linked Incentive (PLI) scheme for the renewable energy sector is anticipated to attract investments worth Rs 3.4 trillion over the next four years. The scheme aims to boost private sector capital expenditure (capex) and accelerate the development of renewable energy infrastructure in India.

Under the PLI scheme, incentives will be provided to eligible manufacturers of solar PV modules, battery storage, and other renewable energy components based on their incremental sales. This initiative is expected to drive substantial investments in manufacturing facilities and contribute to the country's renewable energy goals.

ICRA highlights that the PLI scheme could significantly enhance India's manufacturing capabilities in the renewable energy sector, reducing dependence on imports and fostering domestic production. The scheme's implementation is timely, aligning with India's ambitions to expand its renewable energy capacity and achieve its climate commitments.

The private sector's increased capex is crucial for scaling up renewable energy infrastructure, meeting growing energy demand, and promoting sustainable development. The PLI scheme is designed to incentivize industry participation and spur technological advancements in renewable energy technologies.

The forecasted investments under the PLI scheme underscore its potential to reshape India's renewable energy landscape, driving economic growth, creating employment opportunities, and advancing environmental sustainability. As stakeholders gear up to capitalise on the incentives offered, the scheme is expected to play a pivotal role in India's transition towards a cleaner and more resilient energy future.

Infrastructure Urban

13 Oct 2025

Daikin Boosts Haryana’s Innovation Push with Rs 10 billion R&D Plan

Japanese multinational Daikin Industries has committed an investment of Rs 10 billion to set up a new research and development centre in Haryana. The proposed facility will focus on advanced technologies and sustainable industrial solutions, marking a significant boost to the state’s innovation and industrial ecosystem. The announcement follows the signing of a Memorandum of Understanding (MoU) in Osaka, Japan, during a visit by a Haryana government delegation held from October 6 to 8. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Industries and Commerce Department, ..

Lloyds Metals to Build Rs 250 billion Steel Plant in Gadchiroli

Lloyds Metals & Energy Limited (LMEL) has announced an investment of Rs 250 billion aimed at transforming Gadchiroli in Maharashtra from a region once associated with the red corridor into a key industrial and growth hub. The company’s plans are centred on establishing an integrated steel production ecosystem, which will contribute significantly to regional development and employment. As part of its expansion strategy, LMEL is setting up a 4.5-million-tonne blast furnace in Gadchiroli, scheduled for completion by 2027–28, along with another 1.2-million-tonne facility in Chandrapur by 2029..

UPI Crosses 500 Million Users, Fuels MSME and Digital Growth

The Unified Payments Interface (UPI) has achieved a new milestone, surpassing 500 million consumers and 65 million merchants across India. The platform, developed by the National Payments Corporation of India (NPCI), has expanded its reach to nearly 99 percent of the country’s pin codes, underlining its deep penetration into both urban and rural markets. According to a report by NPCI and the Boston Consulting Group (BCG) launched during the Global Fintech Fest 2025, UPI has evolved from being a digital payments mechanism into a key enabler of financial inclusion and small business growth. I..