While addressing a webinar on the production-linked incentive schemes on Friday, called for hiking manufacturing in India to increase job vacancies.
He said, “We need to take big steps and increase our speed and scale in the manufacturing sector. After Covid’s experience, I am convinced that it’s India’s responsibility to move fast in this direction. Manufacturing transforms every segment of the economy.”
What Is PIL Scheme?
The central government in March introduced the PIL scheme in an endeavor to boost domestic manufacturing and blow away import bills. The scheme aims to give firms incentives on incremental sales from products manufactured in domestic units. All the stakeholders are urged to actively participate in the success of the scheme On this note the PM said, “Every stakeholder associated with the development of the country should have an effective engagement in it”.
PIL is determined at expanding domestic, manufacturing, and boosting exports. It is reported that 13 sectors of the economy including telecom, auto, and pharma, will benefit from it. PM Modi said,” Provisions worth around Rs 2 lakh crore for the PLI scheme has been made. The scheme for textile and food processing will also help the entire agriculture sector.”
TPT Policy Advocacy & Recommendations
- The Indian government should be mindful enough of the foreign firms that are investing in the country so that history doesn’t repeat again. Also, the government should make sure that this policy is followed with zero corruption and enriches the nation’s economy. For an industry to flourish manufacturing is the most important unit of the organization India help always provided services across the globe but has never rendered manufacturing units into their system the government should be peculiar enough of these strategies and collect concrete data to scrutinize the quality and quantity of the products.
- India has a huge young demographic, between 40-60 percent of the country’s population, which requires jobs. India would have to commit to more policy reforms to be able to further scale up its manufacturing capacity. It must continue to significantly invest in the development of physical infrastructure and digital connectivity—high-speed train networks, new airports, seaports, roads, and broadbands.