More sectors to be covered under the PLI Scheme soon: Mr. Piyush Goyal

Mr. Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, said at the CII Global Economic Policy Summit that for India to become a prosperous and developed nation, India will have to cope with global competition.

"It opened our eyes on a number of risk factors in our trading system, our manufacturing and technology gaps that existed in India. This insight has helped us to move forward on the path to Atmanirbhar Bharat”, he said and further added that India would have to participate more with the global economy to develop fast.

While talking about the Production Linked Incentive (PLI) Scheme, Mr. Piyush Goyal said that it has been designed to support the industry where it is needed and that, “the PLI gives the kickstart, but then the industry has to move on its own strength. “He also mentioned that all the decisions related to this scheme are taken by a committee with the stakeholders of industry, along with stating that they are working on more ideas for PLI scheme with more investments coming in.

Afterwards, he also talked about the rejuvenation of textile and cotton sectors, National Technical Textile Mission, exports and imports, and the FTA Negotiations with Australia and UAE.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.