Latest News | Working on PLI Schemes for More Sectors: Goyal
Get latest articles and stories on Latest News at LatestLY. The government is working to extend incentives under the production linked incentive (PLI) scheme to more sectors, Commerce and Industry Minister Piyush Goyal said on Tuesday.
New Delhi, Sep 20 (PTI) The government is working to extend incentives under the production linked incentive (PLI) scheme to more sectors, Commerce and Industry Minister Piyush Goyal said on Tuesday.
The government has announced PLI schemes for 14 sectors, including white goods, textiles and auto components.
The objective of the PLI scheme is to make domestic manufacturing globally competitive, create global champions in manufacturing, boost exports and create jobs.
"We came up with PLI for 14 sectors apart from semiconductor... We are willing to go the extra mile in other sectors. We are working on a few PLI schemes already," Goyal said at an event here.
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There are demands for extending the PLI scheme for sectors like toys, certain electronic components, furniture and bicycles.
Talking about his recent visit to Saudi Arabia, the minister said there is huge potential to increase cooperation in areas like fintech, education, infrastructure, renewable energy, e-commerce, e-gaming and health.
Saudi Arabia wants Indian educational institutes to set up campuses there, and expand dual degrees, he added.
He also said Indian infrastructure companies should explore markets in other countries as huge demand is there worldwide for infrastructure investments.
To promote manufacturing, he asked the industry to focus on standards, technology-led manufacturing, skill development, and sustainable development goals.
On free trade agreements, he urged the industry to engage with the world and take advantage of these trade pacts as protectionism cannot continue.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)