PLI scheme: India to inform PLI scheme for auto parts, metal, textile

The federal government is notifying the production-linked incentive (PLI) scheme, that was introduced to spice up home manufacturing, for sectors like auto parts, metal, and textiles. Extra Secretary within the Division for Promotion of Trade and Inner Commerce (DPIIT) Sumita Dawra stated that the federal government launched the PLI scheme to encourage an incentive-led mannequin for manufacturing, attracting superior applied sciences, bringing in economies of scale and assembly high quality requirements.

“We’re going as per strict timelines and we are going to now look to inform the scheme underneath auto parts, metal, and textiles,” she stated at a PHDCCI webinar on ‘Implications of PLI scheme on India’s manufacturing and commerce competitiveness’ on Thursday.

She added that within the present pandemic time, multinational companies have realised the problems of concentrating their provide chains in a couple of geographies.

“So, India is pitching itself to be a part of this world provide chain by attracting investments in these PLI sectors,” Dawra stated.

The federal government final 12 months accepted the PLI scheme for 13 sectors with a complete outlay of practically Rs 2 lakh crore over a five-year interval.

Talking on the webinar, PHDCCI President Sanjay Aggarwal stated that the scheme would assist entice each home and overseas investments.

Kuntal Sharma, Financial Adviser, Ministry of Meals Processing Industries, stated that the sector holds big scope for progress and growth and the scheme will assist in reaching that. “PLI will assist enhance worth addition within the sector as at the moment it’s much less,” he added.

(The one-stop vacation spot for MSME, ET RISE offers information, views and evaluation round GST, Exports, Funding, Coverage and small enterprise administration.)

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