The Central Government may soon come up with PLI Schemes for 6 new sectors to boost manufacturing in the country.
Key Highlights
- Incentives worth INR 18,000 crores for new sectors of PLI schemes.
- Schemes for Chemicals Industry, Vaccine Inputs, and Shipping Containers sector to be launched.
- Cabinet notes for the PLI Scheme for toys and new-age bicycles along with the leather and footwear industry were circulated earlier.
The Government of India is planning to offer incentives worth INR 18,000 crores through Production-Linked Incentive Schemes or PLI Schemes for 6 new sectors to fillip the manufacturing capacity in the country, as reported by a news portal.
The new sectors for which PLI schemes could be offered include the chemicals industry, the shipping containers sector, toys, bicycles, inputs in vaccines, along with the footwear and leather sector.
While the Cabinet notes for PLI schemes in the leather and footwear industry, new-age bicycles, and toys were already circulated, the addition of the other sectors comes as a surprise.
The move to add new sectors beyond the 14 PLI Schemes comes amidst the restructuring of the PLI Schemes by the Centre due to unutilised amounts allocated to various schemes and a below-average performance of some schemes.
Earlier, it was reported that the government is also planning to make changes in the existing PLI scheme for Pharmaceuticals, PLI scheme for Textiles, and PLI Scheme for Drones and Drone components.
14 Production-Linked Incentive Schemes in India
According to a press release by the Central government in August, 2023, there are currently 14 PLI Schemes in India which include the following key sectors-
1. Mobile Manufacturing and Specified Electronic Components
2. Critical Key Starting Materials/Drug Intermediaries & Active Pharmaceutical Ingredients (API)
3. Manufacturing of Medical Devices
4. Automobiles and Auto Components
5. Pharmaceuticals Drugs
6. Specialty Steel
7. Telecom & Networking Products
8. Electronic/Technology Products
9. White Goods (ACs and LEDs)
10. Food Products
11. Textile Products
12. High efficiency solar PV modules
13. Advanced Chemistry Cell (ACC) Battery
14. Drones and Drone Components.
