Indian Govt To Extend ₹35,000 PLI Scheme To 14+ Sectors
After rolling out the scheme with a budget of ₹2 lakh crore for upto 14 sectors, now the Indian govt is planning to extend ₹35,000 PLI schemes to more sectors.
The government has already launched the program with an investment of approximately 2 lakh crore for as many as 14 industries, including –
white goods, pharmaceuticals, textiles, food items, high-performance solar PV modules, effective chemical cells, specialty steel, and vehicles and auto components.
According to authorities quoted by news agency PTI, the government is exploring a plan to expand the 35,000 Production Linked Incentive (PLI) Scheme to more sectors.
The next step is to make our products and take ownership of them to herald in a new era of 100% repairable and upgradeable Make in India products and assist the goal of a robust growth country that also supports and caters to a circular economy on the global market.
In order to increase domestic manufacturing and generate jobs, the government is reportedly exploring a PLI program for a variety of industries, including leather, bicycles, some vaccine materials, and specific telecom items.
PLI benefits are being examined for toys, some chemicals, and shipping containers in addition to these areas.
According to the official, there are some funds from this 2 lakh crore that might be discussed for other industries.
The program’s goal is to make domestic manufacturing competitive on a global scale and to produce manufacturing world champions.
The government is attempting to expand the sectors eligible for incentives under the PLI plan, according to comments made last month by Piyush Goyal, minister of commerce and industry.
The PLI scheme also seeks to increase India’s exports, improve efficiency, foster economies of scale, and make Indian manufacturing more competitive on a global scale while also luring investment in cutting-edge technology and core competencies.