New Delhi: Mansukh Mandaviya, Minister of Health and Family Welfare, Chemicals and Fertilizers, said on Friday that the ministry intends to introduce a production linked incentive (PLI) scheme for the chemical sector to promote domestic production and exports.
The minister stated at a seminar that the government has created PLI initiatives for several industries in order to make India self-sufficient. "We're considering how to implement the PLI plan in the chemical industry." Mansukh Mandaviya, said addinf that, "We have started working in this direction." He remarked on the sidelines of the event that the ministry is working on it, but that the government will make the ultimate decision. The goal is to ensure that all core chemicals are manufactured in India for both domestic and global markets.
Last year, the government announced a PLI scheme for 13 industries, with budgetary pledges of Rs 1.97 lakh crore over five years beginning in 2021-22.
Mandaviya was speaking at a seminar titled "Industry Connect 2022: Industry and Academia Synergy," which was organised by his ministry in collaboration with the Central Institute of Petrochemicals Engineering & Technology (CIPET) and the Federation of Indian Chambers of Commerce and Industry (FICCI).
For the overall growth of this "sunrise" sector, Mandaviya emphasised more collaboration among government ministries, CIPET, industry, and academics. He said, the industry would play a critical role in assisting the country's transition to a USD 5 trillion economy.
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