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PLI scheme worth Rs 35,000 crore for sectors like bicycle, leather, toys and container likely in next round: Report
PLI Scheme

PLI scheme worth Rs 35,000 crore for sectors like bicycle, leather, toys and container likely in next round: Report

| @indiablooms | 16 Oct 2022, 11:27 am

Government is likely to include seven sectors, including bicycle, leather, toys and container, in the next round of Rs 35,000 crore production-linked incentives (PLI) scheme, media reports said.

The proposal will be soon sent to the Cabinet for approval, sources told CNBC Awaz.

After the massive response to the PLI scheme, the government is planning to add five more sectors and increase the allocation to two more sectors.

Five sectors likely to be included are toys, bicycles, leather and footwear, critical intermediate for chemicals and containers, sources said, according to the report.

Among the new sectors, critical intermediaries of chemicals sectors are likely to get the maximum allocation of Rs 5,000 crore.

This would be different from the earlier scheme as it will focus on chemicals that are strategic in nature and India is mostly dependent on imports of these chemicals.

The report said bicycles and toys sectors are likely to be allocated Rs 3,600 crore and Rs 3,500 crore, respectively.

The leather and footwear sector may get about Rs 2,600 crore.

Around Rs 800 crore is likely to be allocated under the PLI scheme for domestic manufacturing of containers in view of the container crisis owing to the prolonged lockdown in China and the long-drawn Russia-Ukraine conflict.

Further, the government may increase allocation under the PLI scheme for two sectors-IT hardware and pharma.

New products like display panels and memory modules may get space in the PLI scheme for IT hardware for which Rs 17,000 crore are likely to be allocated, stated the report.

The pharma sector may get additional nearly Rs 2500 crore and this may be focused on inputs required for vaccine production.

In 2020, the cabinet approved the PLI scheme for 10 sectors.

The PLI scheme is aimed at ensuring incremental sales over the base year for products manufactured in India with financial incentives to manufacturers.
 

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