India’s Ascent To A Global Manufacturing Hub: Central Government’s PLI Scheme In Action

India’s ascent to a Global Manufacturing hub: Central Government’s PLI scheme in action.

Discover how India is poised to become a global manufacturing powerhouse as the Central Government’s Production Linked Incentive (PLI) Scheme spurs growth across multiple sectors.

NITI Aayog is leading the charge to identify and support 12 key industries, positioning India for international manufacturing leadership.

India will become a global manufacturing hub, The Central Government started the Production Linked Incentive Scheme.

The government wants to take manufacturing to the next stage and the responsibility for this work has been entrusted to NITI Aayog.

NITI Aayog is currently busy identifying those sectors in which India can be made a global manufacturing hub.

At least 12 sectors will be identified and work has also started in this direction.

In the year 2020, the Production Linked Incentive (PLI) Scheme was started by the Central Government to promote manufacturing.

India’s ascent to a Global Manufacturing hub: PLI scheme announced.

Till now the government has announced the PLI scheme in 14 sectors. Positive results of the PLI scheme have also started appearing in sectors like electronics and pharma.

Production is yet to start in many remaining sectors. According to NITI Aayog sources, rapid changes are taking place in the field of industrial manufacturing.

Now the demand for items like electric vehicles, hydrogen, batteries, and semiconductors is going to increase rapidly in the coming time.

Keeping these changes in mind, the Commission will select those sectors in which India can be made the hub of global manufacturing.

Apart from this, the present Indian manufacturing will be reviewed and then the sectors which have the potential to become global hubs will be identified.

Before including them in the possible 12 sectors, things like their future global demand, and our infrastructure capacity for their production will also be reviewed.

Global Manufacturing Hub.

The strategy will be prepared in four months. According to the Commission, not only sectors will be identified to create a global manufacturing hub.

But preparations will be made to provide basic facilities like transportation, logistics, power supply, and digital connectivity for this work.

For this work, the commission will also give suggestions to the government for things like policy-making and tax exemption.

In the next four months, a strategy will be prepared to make India a global manufacturing hub in at least 12 sectors.

Currently, there are many sectors in the PLI scheme under which manufacturers are not showing much interest.

Due to this, there is a delay in starting production in those sectors. All these reasons will also be taken into account in the strategy of NITI Aayog.