Government calls for expansion in PLI scheme for THESE industries
love 2023-11-30 21:12:58583178
According to a senior government official, there are demands to expand the production linked incentive (PLI) scheme to more industries, including certain electronic components, pharmaceuticals, and medical devices. Discussions in the government are currently taking place on these proposals. Discussions are also going on to bring a PLI scheme for toys, furniture, bicycles and containers. The objective of the scheme is to make domestic manufacturing globally competitive, create global champions in manufacturing, boost exports and create jobs. The government last year rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, textiles, advanced chemistry cell (ACC) and speciality steel. "So, from Rs 1.97 lakh crore, there are savings from some sectors. So against those savings, things are being planned. Proposals are under consideration," the official said. Industry demand has increased as a result of the government's initiative to reduce imports and increase domestic manufacturing, which has led to the demand for products like some electronic components, toys, furniture, bicycles, and containers. Offering incentives to businesses based on increased sales of goods made in India over a base year was the plan behind the programme. The scheme has been specifically designed to boost domestic manufacturing in sunrise and strategic sectors, curb cheaper imports and reduce import bills, improve cost competitiveness of domestically-manufactured goods, and enhance domestic capacity and exports. Currently, the scheme covers sectors like automobiles and auto components, specialty steel, telecom and networking products, electronic/technology products. The PLI scheme has also been extended to white goods (ACs and LEDs), food products, textile Products - MMF (man made fibre) segment and technical textiles, high efficiency solar PV modules, and ACC battery.
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