The Union Cabinet has on November 11 approved Production Linked Incentive (PLI) scheme for 10 sectors. Total allocation under PLI may likely be of about Rs 1.46 lakh crore over five years.
Mr. Nitin Kunkolienker, President, MAIT congratulated the PM Office and the Cabinet Secretariat for the announcement of this scheme. He said, “We welcome the Government’s Production Linked Incentive (PLI) scheme, this move is a step in making the industry ”Aatmanirbhar” and globally competitive. We would like to thank Ministry of Commerce, Niti Aayog, Ministry of Electronics and Information Technology, Ministry of Finance, and Department of Telecom for this landmark move. The PLI scheme will tremendously help shift India’s gears to export-led growth.”
“This scheme will help the Electronics industry become a global hub for manufacturing and net exporter which will further make India’s Foreign Exchange net positive. PLI scheme will make Indian manufacturers globally competitive, attract investment in the areas of core competency and cutting-edge technology and create economies of scale. The scheme will also prove to be a strong support system for Indian SME sector and India will see the sector’s growth. It will also enhance exports and make India an integral part of the global supply chain. We would again like to congratulate the Government of India for their efforts to put India on the global map as a manufacturing leader.
