Indian Government will be extending its PLI scheme to more sectors

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    According to an official, the government is contemplating plans to expand the Rs 35,000 crore PLI scheme to a variety of industries, including leather, bicycles, some vaccine components, and some telecom items, in an effort to encourage domestic production and generate jobs. Toys, various chemicals, and shipping containers are also being examined for PLI (production linked incentive) benefits.

    “The proposals are at discussion stage. Inter-ministerial talks are going on to extend PLI benefits to all these different sectors as there has been demand from industry and certain departments,” the official said.

    The government has already launched the programme with an investment of around Rs 2 lakh crore for as many as 14 industries, including white goods, medicines, textiles, food items, high efficiency solar PV modules, advanced chemical cells, speciality steel, and vehicles and auto components.

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    According to the official, there are some savings from this Rs 2 lakh crore that might be discussed for other industries.

    credit: economictimes

    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 programme also seeks to improve India’s exports, attract investment in the fields of core competence and cutting-edge technology, ensure efficiency, foster economies of scale, and make Indian manufacturers competitive on a worldwide scale.

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