Govt to provide production-linked incentives to more sectors, says Niti Aayog

The Niti Aayog vice chairman, however, did not specify which sectors might be made eligible for the incentives.

The government will introduce the production-linked incentive (PLI) scheme for more sectors to boost domestic manufacturing, Niti Aayog Vice Chairman Rajiv Kumar said on Friday.

Addressing a virtual event organised by industry body FICCI, Mr. Kumar also highlighted the government’s efforts to push electric mobility or e-mobility in the country.

He said “85 per cent of vehicles on the street are two- and three-wheelers and we want to shift them to electric mobility going forward. We have finalised standard of charging for two- and three-wheelers,” he said. On opportunities and facilities for investors, Mr. Kumar said, “We will, while attracting FDI, also repose our faith and trust in those who have already invested in India. And we want to recognise them by giving much better logistics, much better infrastructure.”

For this reason, “we have brought out what is called PLI scheme which will be valid for about 9-10 sectors very soon,” Mr. Kumar added.

The government has already introduced the PLI scheme for pharmaceutical, medical devices, mobile phones and electronic manufacturing companies. It is now considering to extend the scheme to other sectors as well.

The Niti Aayog vice chairman, however, did not specify which sectors might be made eligible for the incentives.

“The objective of the PLI scheme is to incentivise investors in this country to put up globally comparable capacity in scale and competitiveness,” he said.

Source: Read Full Article