Business

Governments that provide production-related incentives to more sectors: Niti Aayog

The government will introduce production-linked incentive (PLI) schemes in more sectors to boost domestic manufacturing, Niti Aayog Vice Chairman Rajiv Kumar said Friday.

Kumar worked on a virtual event hosted by the industry group FICCI and also focused on the government’s efforts to promote electric or electronic vehicles in the country.

“85% of the vehicles on the road are motorcycles and tricycles, and we would like to move to electric vehicles in the future. We have established charging standards for motorcycles and tricycles,” he said.

Regarding opportunities and equipment for investors, Kumar said, “While attracting FDI, we regain the trust and trust of those who have already invested in India. And much better logistics and much better infrastructure. I want to recognize them by providing structures. “

For this reason, “we soon announced a so-called PLI scheme that would be effective in about 9-10 sectors,” Kumar added.

The government has already introduced a PLI scheme for pharmaceutical, medical device, mobile phone and electronics manufacturers. We are currently considering expanding this system to other sectors.

However, Vice Chairman Niti Aayog has not identified which sectors may be eligible for incentives.

“The purpose of the PLI scheme is to encourage investors in this country to be globally equal in size and competitiveness,” he said.

(Only the headlines and photos in this report may have been reworked by Business Standard staff. The rest of the content is automatically generated from the syndicate feed.)

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Governments that provide production-related incentives to more sectors: Niti Aayog

Source link Governments that provide production-related incentives to more sectors: Niti Aayog

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