PLI is initial support, industry must face competition: Piyush Goyal | India Business News – Times of India
NEW DELHI: Commerce and industry minister Piyush Goyal on Saturday said Production-Linked Incentive (PLI) schemes across various sectors should be viewed more as an initial support given to boost manufacturing, following which companies should be prepared to face competition to grow further.
The idea is to make India a manufacturing powerhouse and there is a long journey ahead, the minister said after meeting around 750 beneficiaries of the scheme.
These incentives should not be seen as “crutches”. “We are not looking to make you dependent on govt subsidies. This is only like a kickstart… PLI is only meant to give you that little bit of a boost to kickstart your efforts. Please look at it as a kickstart, an initial support (because) ultimately competition will prevail,” the minister said.
He also nudged the industry to gradually focus on global markets and come out of the “cosy comfort” of India’s large domestic market. A more outward looking effort would help add scale, volume and enhance cost effectiveness, he said, adding, “We are looking for your cooperation and collaboration.”
The deliberations assume significance as govt has disbursed Rs 4,415 crore under the schemes for eight sectors, including electronics and pharma, till October 2023.
The idea is to make India a manufacturing powerhouse and there is a long journey ahead, the minister said after meeting around 750 beneficiaries of the scheme.
These incentives should not be seen as “crutches”. “We are not looking to make you dependent on govt subsidies. This is only like a kickstart… PLI is only meant to give you that little bit of a boost to kickstart your efforts. Please look at it as a kickstart, an initial support (because) ultimately competition will prevail,” the minister said.
He also nudged the industry to gradually focus on global markets and come out of the “cosy comfort” of India’s large domestic market. A more outward looking effort would help add scale, volume and enhance cost effectiveness, he said, adding, “We are looking for your cooperation and collaboration.”
The deliberations assume significance as govt has disbursed Rs 4,415 crore under the schemes for eight sectors, including electronics and pharma, till October 2023.
