Umbrella PLI scheme proposed to replace MEIS, promote domestic manufacturing

New Delhi: The government proposes to introduce an umbrella production-linked incentive (PLI) scheme with an allocation of about Rs 40,000 crore to replace the existing Merchandise Exports India Scheme (MEIS) scheme introduced in April 2015 to promote manufacturing and exports of specified goods from India.

Government sources said that a high-level meeting chaired by the Cabinet Secretary is taking place on Wednesday to discuss measures to promote domestic manufacturing, undertake import substitution and thrash out details of a universally applicable production-linked incentive (PLI) and phased manufacturing programme (PMP) scheme.