The union cabinet headed by PM approved the introduction of the productive – Linked Incentives (PLI) scheme in 10 key sector under which businesses will get incentives worth over Rs 1.46 lakh crore in 5 years . The approval comes with an aim to enhance India’s manufacturing capabilities and enhance export under Atmanirbhar bharat  .

Highlights

• The PLI scheme will be implemented by the concern union minister
• The scheme will be within the overall financial limits prescribed
• The PLI scheme across the  10, newly added , key specific sector will make Indian manufactures globally competitive
• The  move also aim to attract investment in the areas of core competency and cutting edges technology. it will also   ensure efficiencies , create economies of scale and enhance export and make India an integral part of the global supply chain

The PLI scheme across these 10 key specific sectors will make Indian manufacturers globallycompetitive, attract investment in the areas of core competency and cutting-edge technology; ensureefficiencies; create economies of scale; enhance exports and make India an integral part of the globalsupply chain.

• ACC battery manufacturing represents one of the largest economic opportunities of the twenty-first century for several global growth sectors, such as consumer electronics, electric vehicles, and renewable energy

• India is expected to have a USD 1 trillion digital economy by 2025. Additionally, theGovernment’s push for data localization, Internet of Things market in India, projects such as SmartCity and Digital India are expected to increase the demand for electronic products.

• The above will be in addition to the already notified PLI schemes in the following sectors

Sector Wise Product Lines