Union Cabinet nod for PLI scheme for pharmaceuticals, IT hardware
It proposes production linked incentive to boost domestic manufacturing and attract large investments in the value chain of these products
New Delhi: The Centre on Wednesday approved a Production Linked Incentive (PLI) scheme for pharmaceuticals, a move which will bring investments of Rs 15,000 crores into the sector. It will benefit domestic manufacturers, spur job opportunities and make a wider range of affordable medicines available for consumers.
The PLI scheme for pharma is likely to promote the production of high-value products in the country and increase the value addition in exports.
In another decision, the Union Cabinet also approved the PLI scheme for bringing investments in the manufacture of mobile phone (handsets and components).
The target IT hardware segments under the proposed scheme include laptops, tablets, All-in-One Personal Comp-uters (PCs) and servers.
The scheme proposes production linked incentive to boost domestic manufacturing and attract large investments in the value chain of these products.
The total cost of the PLI scheme for IT hardware is about '7,350 crores over four years. It intends to provide incentives between four to one per cent on net incremental sales of goods manufactured in India.