New Delhi: India plans to expand its production-linked incentive scheme to five more sectors to help boost local manufacturing, reduce dependence on imports and create employment in the country.
Textile, food processing, battery manufacturing, auto components and network products are proposed to be covered under this programme where the total incentives could be as high as ₹50,000 crore, top government officials said. The government had earlier this year announced similar schemes for the manufacturing of electronics products and pharmaceutical raw material.
The Niti Aayog has identified the sectors and deliberations are ongoing with the stakeholder ministries to provide fiscal support to the top manufacturers to help them scale up production, penetrate global markets and create employment, the officials said.
Source: indiatimes.com