8APRIL, 2026TOP STORIESOn Wednesday, the parliamentary standing committee had tabled a report in the Rajya Sabha that recommended changes that would allow the PLI scheme to be broadened to include the recently growing EV industry in the country.The relocation is regarded as a key measure to promote innovation within the Indian startups, especially in the electric vehicle segment, which is gaining immense popularity worldwide. India is moving ahead with Mission Drone Shakti, a proposed INR 1,600­1,800 crore scheme aimed to boost India's drone manufacturing and cutting dependence on Chinese imports.The plan focuses on building a strong domestic ecosystem by supporting local companies and encouraging innovation in critical drone components.Under Mission Drone Shakti, the government is looking to split funding between research and production. Around INR 500­600 crore will go toward drone R&D in India, while INR 1,000­1,200 crore will support local manufacturing incentives and sales-linked benefits. The scheme is designed to reward companies that produce and sell drones and components within the country. Government of India has extended the EV motor localization deadline for electric bus and truck manufacturers under the PM E-Drive scheme, giving companies more time to meet domestic manufacturing requirements while continuing to qualify for incentives.The move offers relief to automakers building electric buses and trucks, as the industry faces challenges in sourcing key components used in traction motors. With the revised timeline, manufacturers can continue importing traction motors that use rare-earth magnets until September 1, 2026, while still remaining eligible for benefits under the PM E-Drive scheme. Jindal Stainless, India's leading stainless steel manufacturer, has signed a Memorandum of Understanding (MoU) with the Ministry of Steel, Government of India, under the newly launched Production Linked Incentive (PLI) 1.2 scheme for speciality steel.Aligned with the vision of Prime Minister Shri Narendra Modi, the scheme marks a significant step towards strengthening India's high-value manufacturing capabilities and reducing import dependence in critical speciality steel and stainless steel grades.The MoU was signed at Vigyan Bhawan, New Delhi, in the presence of Union Minister for Steel and Heavy Industries, H. D. Kumaraswamy. Jindal Stainless was represented by Vijay Sharma, Director - Corporate Affairs. The Ministry of Steel entered into MoUs with 55 companies on 85 projects in the third round of the Production-Linked Incentive (PLI) scheme of specialty steel. They invested Rs. 11,887 crore and will add 8.7million tonnes of capacity, boosting the production of steel in India. The MoUs were also signed in the presence of Union Minister of Heavy Industries and Steel, H.D.Kumaraswamy, and State Minister, Bhupathi Raju Srinivasa Varma, leading to the official introduction of PLI Scheme 1.2. This new round, which was launched last November, is on specialty steel grades in which India is still import dependent like in the strategy, electrical and high end downstream applications. It has 22 The changes proposed by a parliamentary committee will make the eligibility requirements of the India Automobile Production-Linked Incentive (PLI) scheme much more lenient, which will provide domestic electric vehicle (EV) start-ups with an increased chance of innovating and commercializing the local technologies.MISSION DRONE SHAKTI TO BOOST INDIA'S DRONE MANUFACTURING EV MOTOR LOCALIZATION DEADLINE EXTENDED UNDER PM E-DRIVEAUTO PLI REFORMS TO BOOST STARTUPS, SAYS ATHER ENERGY CEOJINDAL STAINLESS SIGNS MOU WITH INDIA GOVERNMENT FOR PLI 1.2STEEL MINISTRY SIGNS RS 11,887 CRORE MOUS UNDER PLI 1.2 SCHEME
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