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The Seamless Tube Manufacturers’ Association of India (STMAI) on Thursday urged the government to introduce a production-linked incentive (PLI) scheme covering at least 10 per cent of exports of their products, ahead of the Union Budget. STMAI President Shiv Kumar Singhal also urged stricter measures to curb illegal imports of seamless pipes, which are affecting…
Union Cabinet’s approval of a Rs 7,280 crore rare earth permanent magnet (REPM) scheme has been welcomed by industry executives as a major boost to India’s EV and electronics supply chains. The programme aims to create 6,000 metric tonnes per annum of integrated REPM capacity through five globally bid projects, supported by sales-linked incentives and…
NEW DELHI: Govt on Wed-nesday cleared an incentive scheme with an outlay of Rs 7,280 crore for establishing domestic capacity for manufacturing 6,000 tonne of integrated rare earth magnets annually with the aim of breaking China’s stranglehold over this vital input for a host of industries ranging from automobiles to aerospace and defence.Govt will allot…
In a boost to India’s domestic rare earth manufacturing capabilities, PM Narendra Modi-led Union Cabinet on Wednesday cleared an over Rs 7,200 crore Rare Earth Permanent Magnets (REPM) Scheme. The scheme aims to establish integrated manufacturing facilities with a capacity of 6,000 Metric Tons per Annum (MTPA) of Rare Earth Permanent Magnets. The initiative hopes…
NEW DELHI: Twenty-eight Naxalites, including 19 women and 22 cadres carrying a cumulative reward of Rs 89 lakh, surrendered before senior police officers in Chhattisgarh’s Narayanpur district on Tuesday, officials said. According to inspector general of police (Bastar Range) Sundarraj Pattilingam, the group cited their decision was driven by the state government’s ‘Niyad Nellanar’ (your…
NEW DELHI: The China factor continues to weigh heavily on India’s emerging electric car market as the domestic supply chain for green cars is inadequate in key areas such as batteries, semiconductors and magnets.Consider this: of the 46 EV models sold in the country, only six – around 13% – have been found eligible for…
The government has approved 17 additional applicants under the Production Linked Incentive (PLI) Scheme for textiles in the third selection round, a move the Textile Ministry said will strengthen domestic manufacturing and improve India’s competitiveness in man-made fibre (MMF) apparel, MMF fabrics and technical textiles.According to the ministry, the newly approved companies have committed investments…
The Export Promotion Mission will consolidate multiple schemes into a single mechanism. (AI image) Prime Minister Narendra Modi-led Union Cabinet on Wednesday approved an Export Promotion Mission (EPM) with an outlook of Rs 25,060 crore. The move assumes significance at a time when India’s exports to the US face a penal 50% tariff. Additionally, the…
Franklin Templeton (India) has announced the launch of the Franklin India Multi-Factor Fund (FIMF), an open-ended equity scheme built on a data-driven, multi-factor quantitative investment model. According to the company, the fund aims to create long-term wealth through a systematic approach that selects stocks based on four factors — Quality, Value, Sentiment, and Alternatives (QVSA).The…
The vast wealth lying idle in lockers can be put to productive use through this scheme. Someone with 100 grams of gold can earn up to Rs 25,000 a year on the investment. (AI image) Gold has often been derided as a dead investment that neither gives dividends nor earns income for the investor. But…
