The meeting, addressed by India's Trade Minister Piyush
Goyal on Tuesday, comes amid concerns that some of the businesses were facing
delays in availing the incentives from New Delhi amid complicated procedures.
The discussions included ways to improve local manufacturing
at competitive costs, higher domestic value-adds in production, and quick
grievance redressal, the government said in a statement on Wednesday.
The meeting was also attended by executives from iPhone
maker Wistron, laptop maker Dell, telecommunications firm Nokia Solutions and
others that benefited from the scheme's incentive payouts.
The PLI scheme, introduced in late 2020, is Prime Minister
Narendra Modi's main industrial policy to boost manufacturing.
The government has so far announced incentives for 14
sectors including electronics and technology products, pharmaceutical drugs,
and drones, among others, drawing investments totalling Rs. 625 billion until
March 2023, per the statement.
Investments under the PLI scheme are expected to rise
further to Rs. 2.74 trillion as it runs its course, according to government
estimates.
With more than Rs. 1.97 trillion earmarked for incentives,
payouts totalled Rs. 29 billion until fiscal 2023 across eight industries. © Reuters
0 comments:
Post a Comment