The government approved a PLI scheme for 13 sectors with a total investment of Rs 1.97 lakh crore. Textiles, automobiles, steel, telephones, and pharmaceuticals are among the industries represented.
The Council for Leather Exports (CLE) has encouraged the government to extend the benefits of the production-linked incentive (PLI) plan to the sector, arguing that it will assist stimulate manufacturing, create jobs, and increase exports. The government approved a PLI scheme for 13 sectors with a total investment of Rs 1.97 lakh crore.
Textiles, automobiles, steel, telephones, and pharmaceuticals are among the industries represented.
The scheme’s goal is to make domestic manufacturing globally competitive and to develop manufacturing champions. The scheme’s objective is to provide companies with incentives based on incremental sales from products manufactured in India over the base year.
CLE Chairman Sanjay Leekha stated in a letter to Finance Minister Nirmala Sitahraman that implementing PLI for the industry will be a vital stimulus for attaining significant growth and job creation.
Leekha has also urged for extending the emergency credit line guarantee scheme (ECLGS 2.0) to the sector as it would help in enhancing the capacities and in recovering from the adverse impact of Covid-19. He said the council is sure to achieve the exports target of USD 5.89 billion this fiscal.
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