‘PLI scheme to provide major impetus to manufacturing sector’

The Centre’s production-linked incentive (PLI) scheme for key sectors has the potential to add $520 billion worth of manufacturing in the next five years, NITI Aayog CEO Amitabh Kant said on Saturday. Recently, the Centre had announced the PLI scheme with a budgetary support of $26 billion.

Addressing the virtual session, ‘PLI for Exponential Growth of Manufacturing’, organised during Ficci’s 93rd annual convention, Kant said that the PLI scheme in the 10 champion sectors will support Indian manufacturers.

He emphasised that this is the time for supply chains across the world to get relocated and India must leverage the opportunity to become the most preferred destination for manufacturing.