PLI scheme to boost exports, cut trade deficit: Prahalathan Iyer of India Exim Bank
According to India Exim Bank Research, during 2019-20, the cumulative exports from the 10 PLI sectors stood at $71.9 billion with significant untapped potential in the sectors
Nidhi Singal | March 13, 2021 | Updated 00:25 IST
An important step towards boosting investments in domestic manufacturing and cutting down import bills, the government's Production Linked Incentive (PLI) scheme will also help in enhancing overall India's competitiveness of manufacturing exports. The scheme was initially introduced for mobile and allied equipment, pharmaceutical ingredients and medical devices manufacturing, but has been now extended to several other sectors. It now covers a wide array of skill and technology-intensive sectors, including Advance Chemistry Cell (ACC) battery manufacturing, electronics (including telecom products, IT hardware, electronic components), automobile and auto components, bulk drugs and pharmaceuticals, medical devices, textile and allied sectors (including technical textiles, man-made fibre and RMG of man-made fibre), food processing, solar PV manufacturing, white goods (AC, LED) and steel Products.