New Delhi: The central government is considering proposals to extend Rs 35,000 crore production linked incentive (PLI) scheme to various sectors such as leather, bicycle, some vaccine materials, and certain kinds of telecom products with a focus to strengthen domestic manufacturing and generate employments, an official said.
Toys, some chemicals, and shipping containers are also being looked at for PLI benefits. "The ideas are being talked about. Inter-ministerial talks are going on to make PLI benefits available to all of these different sectors, as industry and some departments have asked for it "said the official.
The government has already started the programme, which will cost about Rs 2 lakh crore and cover 14 sectors, such as cars and car parts, white goods, pharmaceuticals, textiles, food products, high-efficiency solar PV modules, advanced chemistry cells, and speciality steel.
The official said that this Rs 2 lakh crore could save money that could be used in other areas. This is being talked about. The goal of the plan is to make domestic manufacturing more competitive on a global scale and create global manufacturing champions.
Last month, the Minister of Commerce and Industry, Piyush Goyal, said that the government is working to add more sectors to the PLI scheme, which offers incentives. The PLI scheme also aims to make Indian manufacturers more competitive on a global scale, to attract investment in core competencies and advanced technology, to improve efficiency, to create economies of scale, to boost exports, and to make India an important part of the global supply chain.
India and UAE offer numerous prospects for investments: Piyush Goyal
Piyush Goyal attends NICDC Investors Roundtable meet in Mumbai
Exports rise to USD35.45 bn in Sept; trade deficit widens to USD25.71 bn