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Working on PLI schemes for more sectors, says Commerce Minister Piyush Goyal

The government has announced PLI schemes for 14 sectors, including white goods, textiles and auto components.

Working on PLI schemes for more sectors, says Commerce Minister Piyush Goyal
Goyal also said Indian infrastructure companies should explore markets in other countries as huge demand is there worldwide for infrastructure investments.

The government is working to extend incentives under the production linked incentive (PLI) scheme to more sectors, Commerce and Industry Minister Piyush Goyal said on Tuesday.

The government has announced PLI schemes for 14 sectors, including white goods, textiles and auto components.

The objective of the PLI scheme is to make domestic manufacturing globally competitive, create global champions in manufacturing, boost exports and create jobs.

Also Read: 35 firms submit applications under PLI scheme for specialty Steel: Jyotiraditya Scindia

“We came up with PLI for 14 sectors apart from semiconductor… We are willing to go the extra mile in other sectors. We are working on a few PLI schemes already,” Goyal said at an event here.

There are demands for extending the PLI scheme for sectors like toys, certain electronic components, furniture and bicycles.

Talking about his recent visit to Saudi Arabia, the minister said there is huge potential to increase cooperation in areas like fintech, education, infrastructure, renewable energy, e-commerce, e-gaming and health.

Also Read: Tata Steel, AM/NS among 75 seeking speciality steel PLI benefits

Saudi Arabia wants Indian educational institutes to set up campuses there, and expand dual degrees, he added.

He also said Indian infrastructure companies should explore markets in other countries as huge demand is there worldwide for infrastructure investments.

To promote manufacturing, he asked the industry to focus on standards, technology-led manufacturing, skill development, and sustainable development goals.

On free trade agreements, he urged the industry to engage with the world and take advantage of these trade pacts as protectionism cannot continue.

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