The government has approved the production-linked incentive (PLI) scheme worth Rs 6,238 crore for air conditioners, LED lights sectors on April 7. Reportedly, the companies engaged in the manufacturing of ACs and LED lights will benefit by 4-6% increment on sales of goods manufactured in India for five years. The nationwide scheme will increase domestic manufacturing, said the Commerce and Industry Minister Piyush Goyal.
Courtesy: Hindustan Times
Tractor manufacturing giant Sonalika tractors reported sharp growth in their annual sales after selling 1,39,526 units in the FY21 with a 41.6% growth in the domestic market. Reportedly, about 13,093 tractors were sold in March 2021 which is triple the number sold in March 2020, registering a 135% growth in their Rotavator business. Elated by the success, Deepak Mittal, MD, Sonalika Group thanked his team and distributors.