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Union Minister of Commerce and Industry Piyush Goyal said that the government is committed to fostering a conducive business environment and accelerating growth in production-linked incentive (PLI) sectors with industry’s feedback and collaborative engagement.
Government officials of the implementing ministry must hold regular consultation and roundtables with their respective PLI beneficiary so that the issues may be resolved promptly, he added at a workshop on “PLI Schemes” organised by DPIIT on Tuesday.
Government officials of the implementing ministry must hold regular consultation and roundtables with their respective PLI beneficiary so that the issues may be resolved promptly, he added at a workshop on “PLI Schemes” organised by DPIIT on Tuesday.
Goyal urged all stakeholders to work together on creating an environment that fosters growth, innovation, and competitiveness in our industries. The development comes in the backdrop of the first-of-its-kind review meeting of the scheme that aims to boost local manufacturing.
The objective of the Workshop was aimed to bring all the key stakeholders on a single platform and create a sense of ownership, so that they could exchange their knowledge and experiences to ensure an effective implementation of PLI Schemes under 14 key sectors.
The centre has allocated Rs 1.97 trillion towards PLI schemes for 14 key sectors including telecom, textile, automobile, white goods pharmaceutical drugs, among others that not only aim to boost domestic manufacturing, but also create jobs, curb cheap imports and boost exports.
The Workshop witnessed participation from 10 implementing central departments, PLI beneficiaries under 14 key sectors, various Project Management Agencies (PMAs) and industry associations and relevant export promotion councils, the ministry said in a statement.
Attendees included a group of distinguished companies such as Wistron, Foxconn, Samsung, Dell, Wipro GE, Dr. Reddy’s, Tata Motors, Mahindra & Mahindra, Nokia Solutions, ITC, & Dabur, JSW, and Reliance among others.
“The workshop agenda covered various aspects related to PLI Schemes, including their scope, eligibility criteria, incentives, and the roadmap for successful implementation including grievance redressal mechanism provided by concerned central departments and PMAs,” it added.
Actual investment of Rs 62,500 crore have been realised till FY23 which has resulted in incremental production and sales of over Rs 6.75 trillion and employment generation of around 3,25,000. It has led to increased value addition in the electronics sector and in smartphone manufacturing, 23 per cent and 20 per cent respectively, from negligible in 2014-15.
