The authorities is notifying the production-linked incentive (PLI) scheme, that was introduced to spice up home manufacturing, for sectors like auto parts, metal, and textiles.
Additional Secretary within the Department for Promotion of Industry and Internal Trade (DPIIT) Sumita Dawra stated that the federal government launched the PLI scheme to encourage an incentive-led mannequin for manufacturing, attracting superior applied sciences, bringing in economies of scale and assembly high quality requirements.
“We are going as per strict timelines and we will now look to notify the scheme under auto components, steel, and textiles,” she stated at a PHDCCI webinar on ‘Implications of PLI scheme on India’s manufacturing and commerce competitiveness’ on Thursday.
She added that within the present pandemic time, multinational corporations have realised the problems of concentrating their provide chains in just a few geographies.
“So, India is pitching itself to be part of this global supply chain by attracting investments in these PLI sectors,” Dawra stated.
The authorities final 12 months authorized the PLI scheme for 13 sectors with a complete outlay of almost Rs 2 lakh crore over a five-year interval.
Speaking on the webinar, PHDCCI President Sanjay Aggarwal stated that the scheme would assist entice each home and international investments.
Kuntal Sharma, Economic Adviser, Ministry of Food Processing Industries, stated that the sector holds big scope for development and enlargement and the scheme will assist in attaining that. “PLI will help increase value addition in the sector as currently it is less,” he added.
