Discussions to expand PLI scheme to more sectors are underway

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Discussions to expand PLI scheme to more sectors are underway

There are demands to extend the production-linked incentive (PLI) scheme to more sectors such as certain electronic components, pharma, and medical devices. A senior government official said that discussions are underway in the government on these proposals.
Discussions are also going on to bring a PLI scheme for toys, furniture, bicycles, and containers.
The scheme aims 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 ₹ 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, textiles, advanced chemistry cells (ACC), and specialty steel.

“Therefore, there are sector-specific savings from 1.97 lakh crore. Things are thus being planned against those savings. Proposals are being considered, “added the official.

Industry demand has increased due to the government’s initiative to reduce imports and increase domestic manufacturing. This has led to the need for products, including electronic components, toys, furniture, bicycles, and containers.

Offering rewards to businesses based on increased sales of goods made in India over a base year was the goal behind the program.

The program has been created to increase domestic manufacturing in sunrise and key industries, lower import costs and cheaper imports, increase domestic capacity and exports, and improve the cost competitiveness of domestically made goods.

The program’s current scope includes goods for the automotive and auto component industries, specialty steel, telecom and networking, and electronics and technology.

White goods (ACs and LEDs), food items, textile products from the MMF (man-made fiber) category and technical textiles, high-efficiency solar PV modules, and ACC batteries have all been included in the PLI program.

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