The Union Cabinet has approved a production linked incentive (PLI) scheme for 10 key sectors for enhancing India’s manufacturing capabilities and exports.
These sectors include Telecom and Networking Products, Pharmaceutical and Drug, Automobile and Auto components, Textile products and Food products. Briefing reporters after the cabinet meeting today, Information and Broadcasting Minister Prakash Javadekar said the scheme will make Indian manufacturers globally competitive, attract investment and enhance exports. He said, this will also increase production, export and employment opportunities in the country.
Industry body FICCI has said that the announcement of PLI scheme for ten sectors by the Government today is a major boost for the manufacturing sector. FICCI President Dr Sangita Reddy said, the sectors covered under the PLI scheme are strategic and technology intensive and are also important from the perspective of employment generation in the country. She said, Indian economy offers a huge opportunity for these sectors not just from the domestic market perspective but also to make India an export hub for these products.
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