Centre received positive feedback from industry on PLI schemes: Minister

Top Stories

»	Centre extends customs duty exemption on cotton imports till December 31
»	Indian stock markets recover as FIIs turn buyers after 10 weeks
»	Gold, silver decline up to 2 pc on hawkish Fed signals ahead of festive buying
»	Sensex climbs over 900 points, Nifty tops 22,900 on FMCG, PSU bank rally
»	SEBI mulls 3rd-party monitoring of IPO fund use, shell firms pose market risk: Tuhin Kanta Pandey

SME Times News Bureau | 18 Nov, 2021
Union Minister of Commerce and Industry, Piyush Goyal, said on Thursday that the feedback has been very positive from the industry on the recently announced production-linked incentive (PLI) schemes by the Centre.

Goyal said this during a review meeting of the Steering Committee on advancing local value-addition and exports.

Notably, PLI schemes in the textile, automotive and white goods' sector are already beginning to encourage growth, a Ministry of Commerce statement said.

The Centre aims to double its auto component exports to $30 billion by 2026, the statement added. Currently, India's auto component trade share is $15 billion, as compared to global $1.3 trillion.

In addition, the minister asked the industry participants to take advantage of low labour costs and reap the benefits of India's scale and demographic dividend.

On automobile sector, he stressed upon ramping up of indigenous production of magnets and electric motors.