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HomeBusinessFinanceGovt considering extending Rs 35,000 cr PLI scheme to more sectors

Govt considering extending Rs 35,000 cr PLI scheme to more sectors

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The government is considering proposals to extend Rs 35,000 crore to different sectors such as leather, bicycle, some vaccine materials, and certain telecom products with an aim to boost domestic manufacturing and create jobs, an official said.


PLI (production linked incentive) benefits are also being considered for toys, some chemicals and shipping containers.


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 rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, food products, high efficiency solar PV modules, advance chemistry cell and speciality steel.


The official said there are some savings from this Rs 2 lakh crore which could be considered for other sectors, and is under discussions.


The objective of the scheme is to make domestic manufacturing globally competitive and create global champions in manufacturing.


Last month, Commerce and Industry Minister Piyush Goyal stated that the government is working to extend incentives under the to more sectors.


The is also aimed at making Indian manufacturers globally competitive, attracting investment in the areas of core competency and cutting-edge technology; ensuring efficiencies; creating economies of scale; enhancing exports and make India an integral part of the global supply chain.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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