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Karnataka industrial policy offers investors choice between capital subsidy and PLI
Economic Times
·
5m ago
Medial
Karnataka's new industrial policy offers investors a choice between capital expenditure subsidy and production-linked incentive (PLI) based on their business models. For capital-intensive units, capital subsidies are preferred, while high revenue sectors can choose PLI. Incentives vary by zone, with industrially backward areas receiving more support. The policy aims to encourage investment and job creation, with larger industries needing to create more employment. Incentives are capped at 60% of fixed assets, with additional support in backward taluks.
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Karnataka targets 15-16% industrial growth by 2032, says CM Siddaramaiah
YourStory
·
1y ago
Medial
Karnataka Chief Minister Siddaramaiah has announced the state's goal of achieving an industrial growth rate of 15-16% annually, to reach a GDP of $1 trillion by 2032. This announcement was made at the curtain-raiser event for the Invest Karnataka global investors meet, which is scheduled for February 2025. The event will highlight rural development and feature over 100 speakers, with the launch of initiatives such as SME Connect 2025 and VentuRISE 2025, a global startup challenge focused on specific sectors. The state aims to attract investors with its upcoming industrial policy and competitive incentives.
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UP Bags INR 40K Cr Commitments Under Semiconductor Policy
Inc42
·
1y ago
Medial
Hiranandani Group's subsidiary Tarq Semiconductor has proposed an investment of INR 28,440 Cr in Uttar Pradesh, while Kaynes Semicon plans to invest INR 4,248 Cr. These projects are estimated to generate over 32,000 job opportunities. Under the UP Semiconductor Policy 2024, both companies are eligible for a 50% capital subsidy in addition to the subsidy provided by the Indian government through the India Semiconductor Mission.
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IPO-Bound Ola Electric Bags PLI Automotive Certificate From ICAT
Inc42
·
1y ago
Medial
Ola Electric has received a PLI-Automotive Certificate from ICAT, enabling its Ola S1 Pro (Gen2) two-wheeler to avail incentives under the production-linked incentive (PLI) scheme. The vehicle met the criteria for a minimum domestic value addition of 50% for the Automotive PLI certificate. The PLI scheme offers incentives for up to five consecutive financial years, ranging between 13% and 18% of the determined sales value. Ola Electric recently filed a draft red herring prospectus for an IPO, with plans to raise INR 7,250 Cr. In FY23, the company reported losses of INR 1,472 Cr and revenues of INR 2,630 Cr.
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Kerala Brings In Policy Initiatives To Promote Itself As Global GenAI Hub
Inc42
·
1y ago
Medial
The government of Kerala has introduced several policy initiatives to establish the state as a global GenAI hub. They plan to create an ecosystem that encourages partnerships and offers incentives. Kerala will formulate a dedicated AI policy aligning with ESG goals in the current fiscal year. Additionally, the Kerala State Industrial Development Corporation (KSIDC) will offer preferential share capital investment of up to INR 5 crore to AI entities with a minimum investment of INR 10 crore.
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IndoSpace to invest $69 mn to develop two warehousing assets in Karnataka
VCCircle
·
11m ago
Medial
IndoSpace, an industrial and warehousing real estate developer backed by Everstone, is planning to invest $69 million to develop two new warehousing assets in Karnataka, India. This investment is part of a memorandum of understanding signed between IndoSpace and the Karnataka government. The assets will be located on the Bengaluru-Mumbai highway and off the Old Madras Road, and will add to IndoSpace's existing three warehousing assets in Karnataka. IndoSpace currently has a portfolio of 52 logistics parks across 11 cities in India.
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Delhi's draft Industrial Policy proposes financial incentives to promote AI, fintech
YourStory
·
18d ago
Medial
Delhi's draft Industrial Policy 2025-35 proposes financial incentives to boost sectors like AI and fintech, aiming to foster a "future-ready, non-polluting industrial ecosystem." The policy includes setting up a Rs 400 crore venture capital fund, offering 50% fixed capital investment reimbursement up to Rs 50 crore per project, and providing various subsidies. It targets generating employment and attracting global companies to Delhi, while also focusing on research, hospitality, and infrastructure development. Comments are invited from stakeholders by July 30.
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Consumers don't need EV subsidies now: Ola's Bhavish Aggarwal
Inshorts
·
7m ago
Medial
Ola Electric CEO Bhavish Aggarwal said EV subsidy schemes like PM E-DRIVE "should go away" as "consumers don't need any EV subsidies now". "Then there are subsidies, which are more incentives, like the PLI schemes, which I believe are still required," he stated. He added that PLIs encourage more localisation and more local manufacturing of EVs and components.
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Extension of subsidy support and new policy are expected to cheer up the EV sector
Thehindubusinessline
·
1y ago
Medial
The Indian government has announced two policy measures aimed at boosting the electric vehicle industry. The Electric Mobility Promotion Scheme 2024 offers a subsidy of INR 500 crore ($69 million) over four months, with two-thirds of the funding earmarked for two-wheelers. This extension is expected to drive the adoption of electric vehicles in the country. Additionally, the government has approved an EV policy to attract investments from global electric vehicle manufacturers and make India a manufacturing hub for EVs. The policy emphasizes a domestic value addition criteria to develop a robust supply chain ecosystem.
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Balancing Act: Choosing Between Venture Debt And Equity Investment For Indian Startups
Inc42
·
1y ago
Medial
Indian startups have increasingly turned to venture debt as a funding option, with $260.7 million raised between January and June 2023. Venture debt offers startups the opportunity to borrow capital without giving up ownership stakes, allowing for growth while limiting dilution. It provides flexibility in repayment and can be secured faster compared to equity funding. However, venture debt may not suit all startups, particularly those with uncertain or capital-intensive business models. Ultimately, the choice between venture debt and equity depends on the specific needs and circumstances of each startup.
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India calls end to subsidy that helped fuel clean energy boom
Economic Times
·
1m ago
Medial
India's renewable energy sector faces financial pressure as a key subsidy ends, increasing costs for new solar and wind projects. From June, these projects will pay 25% of transmission costs between states, escalating fees over time. This policy could hinder power purchase agreements and increase green energy tariffs. States are likely to localize projects to avoid high inter-state transmission charges, potentially disrupting the concentration of renewable projects in specific regions.
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