To increase manufacturing, government is exploring a PLI program for the furniture industry

5 Sep 2022 , 08:30 AM

According to a government official quoted by PTI, the government is mulling a Production Linked Incentive (PLI) plan for specific types of furniture in an effort to increase domestic manufacturing, exports, and employment in the industry. The report noted that the plan is now in the discussion stage.

For as many as 14 industries, including white goods, medicines, textiles, speciality steel, advanced chemical cells, and autos and auto components, the government has already launched the programme with an investment of about Rs2 lakh crore.

The plan aims to make domestic manufacturing competitive on a global scale and to produce manufacturing world champions.

According to news reports, discussions regarding the PLI programme for toys and furniture made of plastic are ongoing.

The extension of the programme has been advocated by the toy industry because it would support local manufacturing and generate employment.

Furniture export is currently estimated to be worth $400 million annually. The current value of furniture exports worldwide is $264 billion, with China, Germany, Poland, Italy, and Vietnam accounting for 50% of the market.

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