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Govt may notify PLI scheme for textile, auto components

Jun 07, 2021
Govt may notify PLI scheme for textile, auto components

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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