Atmanirbhar Bharat rides PLI for supply chain might

MUMBAI: The Rs 1.46-lakh crore PLI scheme is expected to make India an integral part of the global supply chain and create huge employment opportunities, according to the Economic Survey tabled in Parliament on Friday.

The production-linked incentive (PLI) scheme was recently expanded to 10 sectors, after registering traction from global investors in the mobile manufacturing segment.

The government in the Survey said the scheme will make "Indian manufacturers globally competitive, attract investment in the areas of core competency and cutting-edge technology." It added that the scheme will also establish backward linkages with the MSME sector in the country, which, in turn, "will lead to more inclusive growth and create huge employment opportunities".

The scheme was launched to boost manufacturing in the country and make it self-reliant.

The Survey said the PLI scheme will ensure efficiencies, create economies of scale, enhance exports, provide a conducive manufacturing ecosystem, and make India an integral part of the global supply chain especially for the 10 sectors identified under the scheme.

Under the scheme, the government has earmarked the highest amount of incentive for the automobile and its components sector amounting to Rs 57,042 crore. The mobile sector had been granted an incentive of around Rs 40,951 crore.

Some other sectors included under PLI are advance cell chemistry battery (Rs 18,100 crore), electronic and technology products (Rs 5,000 crore).