India is set to review its production-linked incentive (PLI) scheme this month-end to improve utilisation in sectors that are lagging behind. The PLI scheme, which is Prime Minister Narendra Modi’s main industrial policy to boost manufacturing, has so far announced incentives for 14 sectors. The review will focus on six sectors, including textiles and steel, which have not benefitted from the scheme. The government has no plans to include chip manufacturing in the PLI scheme, but discussions are ongoing to bring toys, footwear and new-age bikes under its fold. The PLI scheme has already attracted investments totalling INR 535 billion ($6.54 billion) until December 2022. The aim now is to utilise the funds more effectively over the next 2-3 years.
India to review its production incentive scheme at the end of the month
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