PLI: ASSOCHAM sees multiplier effect on economic activities
The Production-Linked Incentive (PLI) Scheme for 10 more sectors with an additional outlay of Rs.145,980 crore is a massive boost to India becoming a global manufacturing hub, ASSOCHAM Secretary General Deepak Sood said, welcoming the Cabinet’s PLI approval on 12 Nov 2020.
“Along with the PLI Scheme already in operation, the total outlay approved for the flagship programme for making India Atmanirbhar in the global manufacturing value chain is near Rs.2 lakh crore.
“This would have a huge multiplier effect on economic activities, with a sizable generation of employment across different sectors such as automobiles, electronics, textiles, food products, and telecom.
“In sectors like pharmaceuticals, chemicals, solar equipment, the PLI would also give a big leap towards scientific research and development,” Sood said.
“The PLI Scheme, in conjunction with a slew of reforms in agriculture, defence production, infrastructure development are path-breaking measures, some of which required legislative changes.
“India’s manufacturing has a strong linkage with the country’s exports which would get a competitive edge with these measures,” Sood said.
Incentives to sectors like speciality steel and solar modules would help India get a cutting technology along with the investment, he said.
“The global geostrategic paradigm favours India to become a crucial hub in global value chains,” he pointed out, acknowledging the Government efforts for seizing “this great opportunity for India.” #makeinIndia #manufacturing #exports #projects #investments /fiinews.com