SME Times News Bureau | 14 Nov, 2020
Exporters’ association FIEO has welcomed the Government’s
decision on approval of Production Linked Incentive Scheme for attracting FDI
and pushing imports substitution.
In a press statement, FIEO President Sharad Kumar Saraf said
that it will further felicitate the
vision of Make in India and Aatma Nirbhar Bharat, thereby not only making our
products but also making Brand India globally competitive.
Saraf also said that by helping the manufacturing sector to
ensure economies of scale with modern and high-end technology, the scheme will
boost investment, attract FDI, scale up domestic capacity and enhance exports
in a big way, making India a major player in the global value chain.
Besides giving a boost to the micro, small and medium
enterprises, FIEO Chief added that the Scheme will further help in enhancing
the skill sets generating employment opportunities across the country during
such challenging and tiring times, he said.
Inclusion of 10 sectors like advance chemistry cell battery,
electronic/technology products, automobile & auto components,
pharmaceutical drugs, telecom & networking products, textiles products,
food products, high efficiency solar PV modules, white goods (ACs & LED)
and speciality steel will reduce import dependence on these products providing
level playing field to domestic sector, he said.
Saraf also added that the scheme in the long-run will help
in containing trade deficit further adding to the country’s growth story.