Shri Goyal emphasizes on importance of production of high-quality goods ensuring benefits extend to both businesses and consumers
Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution and Textiles, Shri Piyush Goyal encouraged industry’s constructive feedback and collaborative engagement to shape the policies, procedures and effectiveness of the Production Linked Incentive (PLI) scheme. While delivering a keynote address at the ‘PLI Perspectives: A Stakeholder Meeting’ organized by the Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry yesterday at Bharat Mandapam, New Delhi, he applauded the efforts of all the PLI beneficiaries for driving the vision of the Prime Minister, Shri Narendra Modi, to make India a global hub for manufacturing.
Shri Goyal urged the industry champions to intensify their focus on enhancing competitiveness within their respective sectors, fostering a business environment that stimulates innovation, efficiency, and adaptability. He also emphasized on the importance of the industry's concentration on prioritizing production of high-quality goods which is aligned with the broader objective of the PLI Scheme, ensuring that the benefits extend to both businesses and consumers.
Shri Goyal further highlighted the imperative of cooperative collaboration where beneficiary companies were urged to work hand-in-hand with the government and fellow stakeholders, creating a collaborative ecosystem for sustainable growth. The Minister further added that the Government Officials of the implementing Ministry/ Department must hold regular consultation and roundtables with their respective PLI beneficiary.
Overall achievement of PLI Schemes was also discussed during the meeting. Actual investment of Rs. 1.07 lakh crore have been realized (till December’23) which has resulted in production/ sales worth Rs. 8.70 lakh crore and employment generation of around 7 lakhs (direct & indirect). Exports have exceeded Rs. 3.40 lakh crore, with substantial contribution from key sectors such as electronics, pharmaceuticals & food processing. Incentive amount of around Rs. 4,415 crore disbursed under PLI Scheme for 8 sectors.
In the opening session, Secretary, DPIIT, Shri Rajesh Kumar Singh highlighted achievements of PLI Scheme and its potential to revolutionize the manufacturing sector going forward. The opening session was followed by two interactive sessions covering all the 14 sectors, with the objective of exploring areas of collaboration between the Government and industry champions and creating a clear action plan for successful implementation of PLI Schemes. It provided a unique forum for industry leaders, experts, and Government Officials to engage in insightful discussion and exchange valuable insights on the impact of PLI Schemes.
During the interactive sessions, representatives from beneficiary companies expressed their perspectives on the PLI Schemes, sharing valuable insights into their experiences, challenges faced, and suggestions for improvement to enhance effectiveness and streamline implementation processes. The engagement proved to be a constructive platform for open communication between industry stakeholders and the implementing Ministries/ Departments. The meeting facilitated immediate discussions on raised issues, allowing for on-the-spot clarification and resolution by the concerned Ministries/ Departments, demonstrating a commitment to addressing challenges promptly.
The objective of the Meeting was to bring all stakeholders on a common platform, fostering a sense of ownership to facilitate sharing of knowledge and experiences, good practices and success stories ultimately contributing to the successful implementation of PLI Schemes.
Around 1200 delegates, from beneficiary companies under PLI Scheme for 14 sectors, came together to discuss and chart out the strategy for effective and seamless implementation of PLI Schemes. The meeting also witnessed participation from senior officials of NITI Aayog, 10 implementing Ministries/ Departments viz. DPIIT, M/o Electronics & Information Technology, D/o Telecommunications, M/o Heavy Industries, M/o New & Renewable Energy, M/o Civil Aviation, D/o Pharmaceuticals, M/o Food Processing Industries, M/o Textiles & M/o Steel and respective Project Management Agencies (PMAs) under PLI Schemes.
The meeting concluded with a joint commitment from all participants to actively engage in the PLI Schemes and maximize the utilization of the available incentives to their fullest extent.