PLI Scheme to Drive Manufacturing Growth

25 Nov 2024 CW Team

Kamran Rizvi, Secretary, Ministry of Heavy Industries, highlighted the transformative impact of electrification, especially in the automotive sector. He emphasized the ministry’s focus on cost-effective manufacturing and domestic value addition, stating, "India’s robust industrial base positions it for sustainable growth." The rising prominence of electric vehicles (EVs) was noted as a critical factor in reshaping the economy.

Industrial Growth Initiatives Amardeep Singh Bhatia, Secretary, DPIIT, discussed the government’s measures to facilitate industrialization. Programs such as the National Industrial Corridor Program and ease of doing business reforms have enabled the creation of smart industrial townships and sector-specific parks in Tier 2 and Tier 3 cities. "FDI liberalization and these reforms are driving India’s industrialization," Bhatia said.

Private sector leaders also contributed insights. Anant Goenka, Vice President of FICCI and Vice Chairman of RPG Group, advocated for sector-specific industrial parks to boost manufacturing competitiveness, suggesting that these parks could draw inspiration from the SEZ models.

Startup Ecosystem and Innovation India’s startup ecosystem is benefiting from incubators and a focus on deep-tech innovation, fueled by the ?1 lakh crore innovation fund. Bhatia noted this fund’s potential to align startups with industry needs, supporting sustained growth.

Manish Sharma, Chair of FICCI’s Electronics and White Goods Manufacturing Committee, projected strong demand growth driven by localization, value addition, and product customization. He underscored the role of PLI schemes in attracting private sector investments and proposed developing supply chain corridors to complement industrial corridors.

EV Sector Focus Sulajja Firodia Motwani, Chair of FICCI’s Electric Vehicles Committee, emphasized the growing significance of EVs in the automotive supply chain. She called for a graded PLI 2.0, revisions to the tariff structure, and enhanced R&D initiatives to establish India as a global EV production hub.

This convergence of policy initiatives and private sector alignment is expected to bolster India’s position as a leader in manufacturing, innovation, and sustainability.

The Production Linked Incentive (PLI) schemes and a ?1 lakh crore innovation fund, announced in the Union Budget 2024, are set to accelerate growth in India’s manufacturing and startup sectors, according to officials and industry leaders at the FICCI AGM 2024. Kamran Rizvi, Secretary, Ministry of Heavy Industries, highlighted the transformative impact of electrification, especially in the automotive sector. He emphasized the ministry’s focus on cost-effective manufacturing and domestic value addition, stating, India’s robust industrial base positions it for sustainable growth. The rising prominence of electric vehicles (EVs) was noted as a critical factor in reshaping the economy. Industrial Growth Initiatives Amardeep Singh Bhatia, Secretary, DPIIT, discussed the government’s measures to facilitate industrialization. Programs such as the National Industrial Corridor Program and ease of doing business reforms have enabled the creation of smart industrial townships and sector-specific parks in Tier 2 and Tier 3 cities. FDI liberalization and these reforms are driving India’s industrialization, Bhatia said. Private sector leaders also contributed insights. Anant Goenka, Vice President of FICCI and Vice Chairman of RPG Group, advocated for sector-specific industrial parks to boost manufacturing competitiveness, suggesting that these parks could draw inspiration from the SEZ models. Startup Ecosystem and Innovation India’s startup ecosystem is benefiting from incubators and a focus on deep-tech innovation, fueled by the ?1 lakh crore innovation fund. Bhatia noted this fund’s potential to align startups with industry needs, supporting sustained growth. Manish Sharma, Chair of FICCI’s Electronics and White Goods Manufacturing Committee, projected strong demand growth driven by localization, value addition, and product customization. He underscored the role of PLI schemes in attracting private sector investments and proposed developing supply chain corridors to complement industrial corridors. EV Sector Focus Sulajja Firodia Motwani, Chair of FICCI’s Electric Vehicles Committee, emphasized the growing significance of EVs in the automotive supply chain. She called for a graded PLI 2.0, revisions to the tariff structure, and enhanced R&D initiatives to establish India as a global EV production hub. This convergence of policy initiatives and private sector alignment is expected to bolster India’s position as a leader in manufacturing, innovation, and sustainability.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..