PLI is initial support, industry must face competition: Piyush Goyal

Posted on:
Key Points

) schemes across various sectors should be viewed more as an initial support given to boost manufacturing, following which companies should be prepared to face competition to grow further...

The idea is to make India a manufacturing powerhouse and there is a long journey ahead, the minister said after meeting around 750 beneficiaries of the scheme...

Please look at it as a kickstart, an initial support (because) ultimately competition will prevail," the minister said...

The deliberations assume significance as govt has disbursed Rs 4,415 crore under the schemes for eight sectors, including electronics and pharma, till October 2023..

You might be interested in

Rs 53,500 cr PLI investment till December 2022, govt disbursed Rs 2,874.71 cr till March

26, Apr, 23

PLI schemes for 14 sectors were announced during the Covid pandemic in 2020 with an outlay of Rs 1.97 lakh crore to boost domestic manufacturing and exports.

Govt mulls tweaking PLI schemes in textiles, food processing, pharma: Official

30, Jan, 24

The scheme was announced in 2021 for 14 sectors, including telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones and pharma with an outlay of Rs 1.97 lakh crore.

Atmanirbhar push: Rs 7,000-cr PLI boost for toys, bicycle components soon

05, Mar, 23

Commerce and Industry Minister Piyush Goyal had said the finance ministry regularly keeps allocating money for PLI

India says Dell, HP among 32 firms that applied to make laptops locally

30, Aug, 23

At least 32 international electronics companies have applied to India's incentive programme to make laptops, tablets and servers in the country, a top minister said on Wednesday, weeks after the government announced restrictions on laptop imports.

PLI schemes attract over Rs 95,000 crore investment till September this year

26, Dec, 23

In the Union Budget 2021-22, the government announced an outlay of Rs 1.97 lakh crore for the schemes. The sectors included electronics, telecommunication, pharma, white goods (AC and LED light components), and textiles. The aim is to enhance India's manufacturing capabilities and exports. It added that of the USD 101 billion worth of total electronics production in 2022-23, smartphones constituted USD 44 billion, including USD 11.1 billion as exports.

Silicon Valley's elite engage with Piyush Goyal: India's investment appeal in the spotlight

16, Nov, 23

Menlo Park (California) [US], November 16 (ANI): Minister of Commerce and Industry, Piyush Goyal, spearheaded a compelling interaction with Silicon Valley entrepreneurs and venture capitalists. Goyal posted on X, “Had an engaging interaction with Silicon Valley Entrepreneurs & Venture Capitalists. Highlighted how India’s young talent, vibrant business ecosystem & growing economy present the perfect opportunity […]

Telecom companies invest ₹2,419 crore under PLI scheme; 17,753 jobs created: Ashwini Vaishnaw

10, Oct, 23

Telecom Minister Ashwini Vaishnaw Tuesday said telecom companies have invested ₹2,419 crore in India under the production-linked incentive scheme, resulting in exports of ₹7,600 crore, and employment of 17,753 people

Coming-of-age moment for PE as an asset class in India

26, Dec, 23

India is expected to be a relative bright spot for PE firms, with a strong economy and opportunities for growth.