According to food processing authorities, Amul, ITC, HUL, Britannia Industries, Parle Agro and Tata Consumer Products received investment plan approval under the ProductionLinked Incentive (PLI) program on Monday, among other Indian packaged food manufacturers.
I did Earlier this year, the Coalition Cabinet approved a PLI program for the food sector worth Rs 10.9 trillion.
This initiative is expected to create 2.5 Rakı jobs, increase exports and provide customers with a better range of high quality products in the future.
Later, it was rumored that other government ministries would follow, despite the Ministry of Electronics and Information Technology promising to hardware industry executives who worked on the issue.
The Government has secured Rupees 10,900 to encourage food processors to provide incentives under the PLI program. The proposal had to be submitted by June 24, 2021 for consideration.
“According to the EOI, the ministry has received a total of 91 Category 1 applications. The Minister-led FPI (Food Industry) Admissions Commission has approved 60 Category 1 applications so far this year.” According to a statement posted on the website, church officials made the announcement. According to the list of
provinces, up to 12 applications have been approved in the cooked and cooked segments of the food industry. Many companies in this area include ITC Limited (Haldiram Foods Pvt Ltd.), Bikaji Foods Pvt Ltd., Parle Biscuits Pvt Ltd., Bikaji Foods Pvt Ltd., Bikanervala Foods Pvt Ltd., Balaj Wafer Snack Pvt Ltd., Includes GujaratCoOperative. Milk Marketing Federation Co., Ltd. (Amul) and Gujarat CoOperative Milk Marketing Federation Ltd.
After years of stagnation, relaxation of accessory policy in mainland China is currently advancing PLI guidelines for the automotive and auto parts industries.
Several government leaders in the IT hardware industry have expressed concern about localization, especially at PLI. Due to the theoretical ban on investment in China, selected companies were predicted to have difficulty installing component manufacturing and assembly lines in India, such as components such as circuit boards, battery packs and power supplies. ..
In order for a global IT company to establish a PLI-based manufacturing center in India, it must relocate its headquarters and the offices of its supplier of products. The problem in this case is that Chinese suppliers have been denied permission to invest in the country due to current limit tensions.
Such failures have become increasingly serious in the field of IT hardware and could upset the overall strategy. The average incentive structure for this sector in PLI is only 22.5% over four years, and the transfer of production from China or Vietnam to the United States is uneconomical. It is worth mentioning that the PLI incentive structure for mobile phones will be implemented in August 2020, that is, for one year, and the reward will be 4.5% in five years.
In order to avoid the transfer of manufacturing business from China to India, many companies should continue to operate in China because hardware products are classified in the information technology product category and import tariffs are zero. Was selected. Technicians from China will also have to travel to countries where the government has already strengthened its stance to assist in the relocation of the unit.
Due to these difficulties and inadequate incentive structures, the PLI of IT equipment, including laptops, tablets, all-in-one personal computers (PCs) and servers, had to be adjusted prior to operation. On February 24, the government announced a four-year plan that would cost Rs 7.35 billion over four years. India’s production is projected to reach Rs 3.26 during this period and exports are estimated to be around Rs 2.45.
In May, the government set a production target of 1.60 rupees, but now it has been reduced to 1.60 rupees and exports are estimated to be just over 60 rupees. This was owing to the manufacturers’ failure to submit competitive bids.
Four international companies and 10 Indian companies have been selected to participate in the programme.
Given the industry’s worries regarding supply chain disruptions and visa hurdles for Chinese nationals, the government has chosen to reexamine its aims and the issues that have been brought to its attention.
Compared to the previous five years, laptop imports into India have increased by 42 per cent, from $2.97 billion to $4.21 billion in terms of dollar value. According to the latest figures, almost 87 per cent of all imports continue to come from China.
Over the last five years, India’s dependence on China has increased from $ 2.83 billion to $ 3.65 billion, significantly increasing its dependence on the country. Imports of Indian laptops are projected to reach nearly $ 5 billion in March 2021, of which $ 4.35 billion is estimated by Chinese manufacturers.
Laptop, tablet, and desktop computer sales increased from $ 229.38 billion in 2018 to $ 240.99 billion in 2019, according to industry experts. Only six global companies account for 89% of global laptop sales and 81% of overseas tablet shipments. The United States and the European Union together account for more than 40% of the world market share.
China accounts for 66% of the world’s manufacturing market, with a market value of $ 100 billion in 2019, making it one of the world’s most important suppliers of the future.
The PLI program will not continue until China-based relief companies and executives are granted accessible entry into the United States. The government has stated that it will promote individual licenses if absolutely necessary.
Later, it was rumored that other government ministries would follow, even though the Ministry of Electronics and Information Technology had promised hardware industry executives who contacted the government on this issue.
In the Fruits and Vegetables category, 18 applications have been approved this year. Other companies in the industry include Parle Agro Pvt, Everest Food Products Pvt, Mtr Foods Private Ltd, Mccain Foods India Pvt Ltd, Tasty Bite Eatables Limited, Hindustan Unilever Ltd, Varun Beverages Ltd, Keventer Agro Ltd, Nestle India Ltd, Dabur. Includes India Ltd. And Field Fresh Foods.
Falcon Marine Exports Ltd, Avanti Frozen Foods Pvt Ltd and ITC Limited are one of the companies approved for marine projects, with a total of 11 others. Three commandments of mozzarella cheese have been added to the category. Parag Milk Foods has submitted bids for the Gujarat CoOperative Milk Marketing Federation (GCMMF), Sunfresh Agro Industries Pvt Ltd, and Indapur Dairy and Milk Products Limited.
edited and proofread by nikita sharma