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India Offers $2.2 Billion Incentive to Boost Local Manufacturing in New Sectors

India Offers $2.2 Billion Incentive to Boost Local Manufacturing in New Sectors

India's government plans to invest up to 180 billion rupees (about $2.2 billion) to incentivize local manufacturing in six new sectors, including chemicals, shipping containers, and vaccine inputs. This initiative is part of the country's production-linked incentive (PLI) scheme, which was launched in 2020 but has seen limited success in its existing 14 sectors.


Underutilized funds from the PLI scheme will be redirected to these new sectors. The move aims to encourage domestic manufacturing and job creation. The new sectors expected to join the PLI scheme are toys, bicycles, leather, and footwear, sharing the 180-billion-rupee allocation.


The PLI scheme is a crucial component of India's "Make in India" initiative, designed to boost domestic production and attract investment. While nearly 29 billion rupees in incentives were paid out in the previous fiscal year, some sectors like specialty steel products, solar modules, and car components have received limited allocations.





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