PLI scheme to place India firmly in the global manufacturing value chain
PHD Chamber of Commerce and Industry recently held a Virtual Open House Session on the Implications of Production Linked Incentive (PLI) Scheme on India’s Manufacturing and Trade Competitiveness.
Experts during a virtual session on the “Implications of Production Linked Incentive (PLI) Scheme on India’s manufacturing and trade competitiveness” - organised by PHD Chamber of Commerce and Industry recently - expressed hope that India will be among manufacturing destination for major global companies due to the Production Linked Incentive (PLI) scheme.
The session moderated by Dr S P Sharma, Chief Economist, PHD Chamber saw participation from eminent leaders such as Sumita Dawra, Additional Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India (GoI) and Dr Ajay Dua, Former Secretary, Ministry of Commerce and Industry, GoI. Others included Kuntal Sensarma, Economic Adviser, Ministry of Food Processing Industries, GoI and Jay Karan Singh, Trade Adviser, Ministry of Textiles, GoI.
Sumita Dawra, Additional Secretary, DPIIT, mentioned that a budget allocation of $20 billion to 13 core sectors of the economy, under the PLI scheme, would encourage an incentive-led manufacturing base and has the potential to position India in the global value chain. She added that, it can boost R&D, economies of scale and meeting quality standard. She also said that it is expected to generate further benefits over the next five years.
Sandeep Aggarwal, Chairman, Industry Affairs Committee, PHD Chamber, explained that in the wake of the international trade regulations, the PLI scheme is probably the best scheme to make the Indian manufacturing sector more competitive.
Vishwanath, Co-Chairman, Industry Affairs Committee, PHD Chamber stated that the PLI scheme would be a miracle for India’s manufacturing and trade competitiveness, by ensuring certainty in scheme implementation and creating a centralised exclusive portal of PLI for beneficiaries of the scheme.
Saurabh Sanyal, Secretary-General, PHD Chamber, suggested inclusion of medicinal plants and Ayush products in the PLI Scheme to deliver benefits to Indian farmers and exporters.
The webinar was supported by DLF India, Multani Pharmaceuticals Ltd, JK Tyre & Industries Ltd, Marble City, Paramount Cables Ltd, SMC Investments and Advisors Limited, Blossom Kochhar Aroma Magic, DCM Shriram Industries Ltd, Radico Khaitan Ltd, Timberworkz and Synergy Environics Ltd.
Source – Press Release