Manufacturing kicks off on a strong note in 2025 as PMI climbs to 57.7
Manufacturing sector in India kicked off 2025 on a strong note, with the Purchasing Managers’ Index (PMI) climbing to 57.7 in January as compared to 56.4 in December.
The government has allocated a total capacity of 39,600 MW of domestic Solar PV module manufacturing capacity to 11 companies, with a total outlay of Rs 14,007 crore under the Production Linked Incentive Scheme for High-Efficiency Solar PV Modules (Tranche-II).
Manufacturing capacity totaling 7400 MW is expected to become operational by October 2024, 16,800 MW capacity by April 2025 and the balance of 15,400 MW capacity by April 2026. The Tranche-II is expected to bring in an investment of Rs 93,041 crore. It will also generate a total of 1,01,487 jobs with 35,010 getting direct employment and 66,477 being indirectly employed.
Advertisement
Speaking on the success of the PLI scheme, Union Power Minister R K Singh said India was well on its way to climbing up the value chain in the production of the high technology Solar PV Modules and this capacity addition is a major step towards making India Aatmanirbhar in the solar manufacturing sector.
Advertisement
“The PLI Scheme has proved to be a watershed event in India’s Renewable landscape resulting in around 48 GW domestic module manufacturing capacity within the next 3 years. Scheme has boosted the government’s efforts to reduce not only the impact of global supply chain shocks but also our import dependence adhering to the Prime Minister’s vision of an Aatmanirbhar Bharat,” Singh said.
A total integrated capacity of 8737 MW was allocated under Tranche-I of the Scheme, in November-December, 2022. Considering the two tranches together, the total domestic solar PV module manufacturing capacity allocated under the PLI Scheme is 48,337 MW, with cumulative support of more than Rs 18,500 crore by the government.
Advertisement
