Govt may notify PLI scheme for textile, auto components
The government is aiming at notifying the production-linked incentive (PLI) scheme, that was announced to boost domestic manufacturing, for sectors like auto components, steel, and textiles.
New Delhi
The
government is likely to notify the Production-Linked Incentive (PLI) scheme –
which was announced as part of Aatmanirbhar Bharat initiative to boost domestic
manufacturing – for sectors like auto components, textiles, etc very soon.
According to Sumita Dawra,
Additional Secretary, the Department for Promotion of Industry and Internal
Trade (DPIIT), the government introduced the PLI scheme to encourage an
incentive-based model for manufacturing, attracting advanced technologies,
creating economies of scale and meeting quality standards. “They are going as per strict timelines and looking forward
to notify the scheme under auto components, steel, and textiles,†she said.
She
added that during the current pandemic, multinational firms have
realised the issues of concentrating their supply chains in selected
geographies and through this, India is pitching itself to be part of the global
supply chain by attracting investments in these PLI sectors.
The
government approved the PLI scheme for 13 sectors last year with a total outlay
of nearly $ 26.67 billion over a five-year period.
According
to Sanjay Aggarwal, President, PHDCCI, the scheme would help attract both
domestic and foreign investments.
Kuntal
Sharma, Economic Adviser, Ministry of Food Processing Industries, said that the
sector holds huge scope for growth and expansion and the PLI scheme will help in achieving that and will increase value
addition in the sector.
Source: The Indian Express
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