PLI scheme focuses on incentivising firms to grow fast, boosting India’s manufacturing & export prospects. But in the long run, sectors need to die and be born.
Fitness tech firm GOQii plans to move manufacturing of its wearables out of China, at a time when Apple & other brands are seeking to make more in India.
The incentives, spread over 5 years, will be provided to sectors like auto, automobile components, textile products, white goods like LED screens, processed food products, among others.
Manufacturers indicated that the ongoing relaxation of Covid-19 restrictions, better market conditions and improved demand helped them to secure new work in October.
The Ministry of Statistics and Programme Implementation attributed the decline to a large number of industrial units not operating from the end of March due to the lockdown.
PM’s Economic Advisory Council member V. Anantha Nageswaran says whittling away unwanted rules and regulations will be a step towards fixing the problem.
Index of Industrial Production figures for May are an improvement over the 58% contraction in April, the first full month of the nationwide Covid-19 lockdown.
Evidence suggests a massive shift back to Europe is unlikely because of the ever-growing importance of China. Moving supply chains closer to home might come at a cost.
Nitish Kumar has mastered the rhythm of renewal in Bihar. In a democracy of churn and chance, endurance may be the rarest—and most refined—form of political art.
While the move could free up grid capacity struggling to keep up with rapid renewable rollout, it would be a major setback for green ambitions. India aims to double clean power capacity to 500 gigawatts by the end of the decade.
This world is being restructured and redrawn by one man, and what’s his power? It’s not his formidable military. It’s trade. With China, it turned on him.
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