Govt may extend PLI to other industries

17 Oct 2022 , 09:12 AM

With a view to boosting local production and creating jobs, the government is reportedly exploring plans to expand the Rs 35,000 crore PLI program to several industries, including leather, bicycles, certain vaccine ingredients, and some telecom items.

For toys, certain chemicals, and shipping containers, PLI (production-linked incentive) advantages are also being taken into consideration. Discussions on the plans have begun. As a result of requests from businesses and several departments, interministerial discussions are currently taking place to expand PLI benefits to all of these diverse industries.

For as many as 14 industries, including white goods, medicine, textiles, food items, high-efficiency solar PV modules, advanced chemical cells, and specialty steel, the government has already launched the program with an investment of nearly Rs 2 lakh crore.

According to the official, there are some savings from this Rs 2 lakh crore that might be looked at for other sectors and are now being discussed.

Making local manufacturing competitive on a global scale and producing manufacturing world champions are the plan’s goals.vThe government is seeking to expand incentives under the PLI plan to new industries, according to comments made last month by Piyush Goyal, minister of commerce and industry.

The PLI program also seeks to increase India’s exports, improve efficiency, foster economies of scale, and make Indian manufacturing more competitive on a global scale. It also seeks to encourage investment in cutting-edge technology and core competencies.

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