NEW DELHI: The Union Cabinet on Wednesday approved a Rs 2 lakh crore production linked investment (PLI) scheme for 10 sectors in order to boost domestic manufacturing in the country.
Addressing the media after the meeting, Union minister Prakash Javadekar said, “The Union Cabinet has approved PLI scheme for ten key sectors for enhancing India’s manufacturing capabilities and enhancing exports.”
“The scheme will make Indian manufacturers globally competitive, attract investment and enhance exports,” he added.
The concerned sectors will include advance chemistry cell battery, electronic products, automobiles and auto components, pharma, telecom and networking products, textile, food products, white goods and speciality steel.
Earlier, the Centre had rolled out a similar scheme for electronics manufacturing sector, particularly for mobile phone manufacturing, to curb increasing imports.
Source From : Times Of India