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PLI scheme to boost India's manufacturing output by $520 bn in 5 yrs: PM

Modi on Friday said PLI scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years

Topics
PLI scheme | Narendra Modi | manufacturing

Press Trust of India  |  New Delhi 

Modi
Prime Minister Narendra Modi | Photo: PTI

Prime Minister on Friday said production linked incentive (PLI) scheme, which is aimed at boosting domestic and exports, is expected to increase the country's production by USD 520 billion in the next five years.

Addressing a webinar, Modi said the government is continuously carrying out reforms to boost domestic

In this year's Budget, about Rs 2 lakh crore was earmarked for the for the next five years and "there is an expectation that the scheme would result in increasing the production by about USD 520 billion in the next five years", he said.

He added that there is also an expectation that the current workforce in the sectors, which will avail the benefits of the PLI scheme, will be doubled and job creation will also increase.

The Prime Minister said the government is working to reduce compliance burden, further improve ease of doing business and cut down logistics costs for the industry.

"would boost in sectors from telecom to auto to pharma. PLI is aimed at expanding manufacturing and boosting exports," he said.

(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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First Published: Fri, March 05 2021. 12:41 IST
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