Govt. Approves PLI Scheme Worth 2 Lakh Crore for 10 Key Sectors

The Union Cabinet on Wednesday approved Production-Linked Incentives (PLI) worth up to 2 lakh crore for 10 manufacturing sectors for the next five years. "This move will enhance India’s manufacturing capabilities," said Union minister Prakash Javadekar while announcing the decision. "The scheme will make Indian manufacturers globally competitive, attract investment and enhance exports," he further added.

The critical sunrise sector will get the necessary support from the government through the PLI scheme, said finance minister Nirmala Sitharman. The 10 key sectors that will get the benefit of production-linked incentives include automobiles and auto components, pharmaceuticals drugs, specialty steel, capital goods, technology products, white goods (ACs and LEDs), telecom, and networking products, textiles, high-efficiency solar PV modules, and advanced battery cells.

"This move is aimed at promoting PPP in social & economic infrastructure leading to efficient



creation of assets, ensuring operation & maintenance, make economically/socially essential projects commercially viable," Javadekar added.

To boost growth in the private sector, the central government prior set up an engaged gathering of secretaries under the cabinet secretary Rajiv Gauba. The government thinks tank NITI Aayog distinguished 10 sectors as key sectors which will help draw in ventures all at once worldwide gracefully chains are affected and over the long haul help shore up income. 

Money related help pointed toward carrying interests into the nation, and make a creation in the nation alluring, the finance minister added. The last proposition of PLI scheme for singular sectors will be endorsed by an enabled finance panel and Union cabinet. The concerned offices and minister will begin actualizing schemes quickly, Sitharaman added. There is no cap on the number of organizations that will be qualified for PLI under every class for the present, she added.