PLI scheme for white goods will extend an incentive of 4-6 percent on incremental sales of goods manufactured in India for a period of five years
Commerce and Industry Minister Piyush Goyal said that the approval of the scheme for ACs and LEDs will give a boost to domestic manufacturing.
DPIIT Secretary Guruprasad Mohapatra said the government has undertaken several policy reforms, including PLI scheme, to boost manufacturing and exports
We believe that government interference in everything creates more problems rather than solutions. That is why we are emphasising on self-regulation, self-attesting, self-certification, he said.
India became the second largest mobile manufacturing country in 2017.
Fitch Solutions Country Risk and Industry Research noted that some of the operational risks present in the country would still remain a challenge for many investors despite the incentive
Niti Aayog CEO said the government is finalising its plans to expand its production-linked incentive (PLI) scheme to more sectors for boosting domestic manufacturing
If India is going to get a V-shaped recovery from the (current) crisis, it will have to be on the back of the automobile and auto component manufacturers, he said
Prasad said this scheme is not against any country, it is only India positive.
According to the IT Ministry, India's production of electronics grew from $29 billion in 2014 to $70 billion in 2019.
IT and Telecom Minister Ravi Shankar Prasad said India will initially aim to attract top 5 global mobile manufacturing companies and also promote five local firms that will be identified through a screening process