PLI scheme to revolutionise 'Make in India' initiative: Rajiv Kumar

Niti Aayog CEO Amitabh Kant said the PLI scheme across 10 champion sectors will make Indian manufacturers globally competitive, attract investment in areas of competency and create economies of scale. The scheme will help encourage domestic manufacturing, reduce imports and generate employment as the government works to bolster economic growth.

New Delhi, Nov 11 (PTI) The government's decision to approve Production Linked Incentive (PLI) scheme for 10 sectors is set to revolutionise the 'Make in India' initiative and will create competent, globally integral economies of scale for home-grown manufacturing, Niti Aayog Vice Chairman Rajiv Kumar said. The government on Wednesday approved PLI scheme for 10 key sectors, including telecom, automobiles and pharmaceuticals, taking the total outlay for such incentives to nearly Rs 2 lakh crore over a five-year period.

"PM @narendramodi ji's vision of an Aatmanirbhar Bharat gets a major boost today, with the approval of the Production Linked Incentive scheme for 10 sectors - set to revolutionise Make in India & create competent, globally integral economies of scale for home-grown manufacturing," Kumar said in a tweet. Niti Aayog CEO Amitabh Kant said the PLI scheme across 10 champion sectors will make Indian manufacturers globally competitive, attract investment in areas of competency and create economies of scale.

The scheme will help encourage domestic manufacturing, reduce imports and generate employment as the government works to bolster economic growth. The financial outlay for the new scheme will be Rs 1,45,980 crore.