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PHDCCI suggests zero import duty and a PLI scheme for gold ore concentrate industry

Newsmantra — Wed, 03 Dec 2025 13:47:30 +0000

India’s gold industry continues to be the second-largest globally in terms of consumption and is largely met by imports. According to World Gold Council 2024 report, India witnessed a 5 percent rise in demand, on year to year basis, in 2024 compared to 2023 supported by reduction in import duty.

Outlook also remains bullish on India’s gold demand in 2025 and is expected to remain within range of 700 to 800 metric tonnes in next three years. Thus, it is important to foster the growth of the gold ore processing industry, strengthen India’s strategic mineral security, and ensure the sector’s long-term sustainability, said Mr. Rajeev Juneja, President, PHDCCI, in a press statement issued here today.

PHDCCI suggests zero import duty for Gold Ore Concentrate (HSN 26169010), in line with Copper Ore Concentrate Budget which enjoys nil duty, even though it yields approximately 12 tons of gold annually as a by-product.

Furthermore, due to reduction in import duty on finished gold from 15% to 6% in the Union Budget 2024 25, direct imports of finished gold become more attractive than domestic refining, hindering the growth of India’s refining infrastructure. The reduction of duty to zero will bring parity with Copper Ore Concentrate which is essential to protect industry viability, encourage investment, and support domestic value addition and employment, he said.

Additionally, a Production-Linked Incentive (PLI) scheme for Gold Ore Concentrate processing industry, linked to output per kilogram of gold refined will encourage sustained investment and capacity building, he said.

We appreciate that currently the government provides a zero-rated duty on the import of Gold ore concentrates (HSN-26169010) which has been a pivotal factor in attracting investments and technical expertise, he said.

We further recommend stability of import duty policies under Chapter HSN 26 by extending this duty exemption on raw materials i.e. restoration of exemption under SR. No. 133 of 50/2017 at least for another 5 years, which is set to expire in March 31, 2026. This policy will attract new investments to the country with favorable price-cost margins and reduce import content, he added.

The expansion of domestic gold production will enhance economic self-sufficiency and contribute to the GDP, with the share of gold production in GDP increasing from 0.04% currently to 0.1% by 2030, according to a study on ‘Framework to Strengthen India’s Gold Processing Industry: A Step in Building Gold Self-Reliance (2024)’ conducted by PHD Research Bureau, PHDCCI.

Overall, the Indian gold processing and manufacturing industry’s future looks promising, with widespread positive impact on employment, investment, trade balance, and government revenues, said Mr. Ranjeet Mehta, CEO& Secretary General, PHDCCI.

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Rs 3000 Crore PLI Scheme for Drone Industry

Newsmantra — Tue, 17 Sep 2024 06:13:19 +0000

Indian Drone Industry ‘s proposed Rs 3000 crore Production-Linked Incentive (PLI) scheme for the drone industry is expected to revolutionize the sector, making India a global drone hub by 2030. This significant increase from the earlier Rs 165 crore is a strategic move to promote indigenous drone manufacturing and establish the sector on a sustainable footing.

“India’s Proud ! the drone ecosystem is set to receive a ₹3,000-crore ($360-million) booster shot, with the Centre planning a new production-linked incentive (PLI) scheme for the industry; the news was a wisper until yesterday is now in public domain in major dailies.”

Key Analytics and Expectations:

– Growth Projections: The Indian drone manufacturing industry is expected to reach Rs 900 crore by 2025, growing at a CAGR of 22.15% during 2024-30.

– Job Creation and Skill Development: The expanded PLI scheme will likely create new job opportunities and drive skill development in drone manufacturing, maintenance, and operation.

– Increased Competitiveness: The incentive will enable Indian drone manufacturers to compete globally, improving export prospects and attracting foreign investment.

– Diversified Applications: The drone industry’s growth will lead to increased adoption in various sectors, including border surveillance, rescue and disaster management, logistics, data processing, and traffic management.

Industry Reaction:

Aadhar Bansal, Director of Nexgen Exhibitions, notes that the “Make in India” movement and the government’s visionary PLI scheme have already given the industry a huge boost, attracting significant foreign investment.

Dr. Shankar Goenka , Managing Director of WOW Go Green makers of Krishi Viman Drones; the leading drone manufacture in the country in the domains of agriculture in general and farming in particular, strongly believes that it’s a befitting move towards sustainability of the Drone Industry and making India the Drone Hub; and will be a step forward towards Viksit Bharat.

Government Support:

The government’s efforts to promote the drone industry include:

More Liberal Policies:Simplified regulations and policies to encourage innovation and growth.

Drone Shakti: A production-linked incentive scheme to boost domestic manufacturing.

Increased Airspace: Expanded airspace for drone operations, enabling greater flexibility.

Special Emphasis on Drones for Hobbiests, clarity to promote that sector in the country.

The proposed Rs 3000 crore PLI scheme is a significant step towards realizing India’s vision of becoming a global drone hub. With industry expectations and growth projections aligned, this move is poised to establish the drone sector as a key contributor to India’s economic growth.

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PLI scheme to generate 1.48 lakh jobs in 5 years

Newsmantra — Mon, 19 Jun 2023 05:04:04 +0000

PLI scheme to generate 1.48 lakh jobs in 5 years.

Union Minister of Heavy Industries Dr. Mahendra Nath Pandey said that the Ministry of Heavy Industries has launched a PLI scheme to encourage domestic manufacturing of automobile auto components and Advanced Automotive Technology (AAT) products with a budgetary support of Rs 25,938 crore. He further added that the nation is dependent on other countries for components like ‘sunroof’, automatic brakes, pollution warning system and tire pressure monitoring system, but the introduction of PLI scheme will give a big boost to the manufacturing of these components and will also generate 1.48 lakh jobs in the sector.

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