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  Business   In Other News  25 Feb 2021  Union Cabinet nod for PLI scheme for pharmaceuticals, IT hardware

Union Cabinet nod for PLI scheme for pharmaceuticals, IT hardware

THE ASIAN AGE. | AGE CORRESPONDENT
Published : Feb 25, 2021, 7:17 am IST
Updated : Feb 25, 2021, 7:17 am IST

It proposes production linked incentive to boost domestic manufacturing and attract large investments in the value chain of these products

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. (AFP)
 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. (AFP)

 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. 

 

Tags: production linked incentive, pharmaceuticals prodution, mobile phone manufacture