In Short
- The review will focus on six sectors, including steel and textiles
- It is aimed at better utilisation of funds over the next 2-3 years
- The government has no plans to include chip manufacturing in the PLI scheme
By ReutersIndia will review its production-linked incentive (PLI) scheme at the end of this month to improve utilisation in sectors that are lagging behind, a trade ministry official said on Tuesday.
The PLI scheme, which is Prime Minister Narendra Modi’s main industrial policy to boost manufacturing, has so far announced incentives for 14 sectors.
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The review will focus on six sectors, including steel and textiles, where the scheme has not been effective, the official, who did not want to be named, told reporters.
The official said the review will help in better utilisation of funds over the next 2-3 years.
Another official said the government had no plans to include chip manufacturing in the PLI scheme, but that talks were in “reasonably advanced stages” to bring toys, footwear and new-age bikes under the fold.
The PLI scheme has drawn investments totaling 535 billion rupees ($6.54 billion) until December 2022.
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