Union Cabinet Chaired by the India’s Prime Minister Narendra Modi and given approval to introduce the production-linked incentive PLI scheme in the following 10 key sectors for enhancing India’s manufacturing capabilities and Enhancing Exports.
10 key sectors approved by cabinet that is Advance Chemistry Cell (ACC) Battery, Electronic/ Technology Products (Niti Aayog and Department of Heavy Industries), Electronic/ Technology Products (Ministry of Electronics and Information Technology) also, Automobiles & Auto Components (Department of Heavy Industries), Pharmaceuticals Drugs (Department of Pharmaceuticals). Also, Telecom & Networking Products (Department of Telecom), Textile Products: MMF segment and technical textiles (Ministry of Textiles) and Food Products (Ministry of Food Processing Industries). Also, High Efficiency Solar PV Modules (Ministry of New Renewable Energy), White Goods (ACs & LED) (Department for Promotion of Industry and Internet Trade) and Specialty Steel (Ministry of Steel).
The PLI scheme implemented by the concerned ministries/departments and within the overall financial limits prescribed. The final proposals of PLI for individual sectors appraised by the Expenditure Finance Committee (EFC) and approved by the Cabinet.
Savings, if any, from one PLI scheme of an approved sector can be utilized to fund that of another approved sector by the Empowered Group of Secretaries. Any new sector for PLI will require fresh approval of the Cabinet.
The PLI scheme across these 10 key specific sectors will make Indian manufacturers globally competitive, attract investment in the areas of core competency and cutting-edge technology; ensure efficiencies; create economies of scale; enhance exports and make India an integral part of the global supply chain.