A few changes in policies can make the PLI scheme even more efficient
By MYBRANDBOOK
Anirudh Bharara
Director - Aggressive Electronics Manufacturing Services Private limited
PLI SCHEME COMPLEMENTING MAKE IN INDIA INITIATIVE
The Production Linked Incentive (PLI) scheme is a government initiative that aims to boost domestic manufacturing and attract foreign investment in India. The scheme provides financial incentives to manufacturers who produce goods locally and meet certain criteria such as minimum investment and production targets.
The Make in India initiative is a similar government program that aims to promote domestic manufacturing and reduce dependence on imports. The PLI scheme complements the Make in India initiative by providing additional incentives to manufacturers who produce goods locally and meet certain criteria. This helps to create jobs, boost economic growth, and reduce the trade deficit by increasing exports.
PLI CREATING A GROWTH ECOSYSTEM
The PLI scheme is expected to create a growth ecosystem for the economy by promoting domestic manufacturing and reducing dependence on imports. This will help to create jobs, boost economic growth, and reduce the trade deficit by increasing exports. The scheme is also expected to attract foreign investment in India by providing financial incentives to manufacturers who produce goods locally and meet certain criteria such as minimum investment and production targets.
In order to make the PLI scheme even more efficient, some changes in policies that could be recommended are –
Simplification of the application process: The application process for the PLI scheme could be simplified to make it easier for manufacturers to apply for incentives.
Increase in the number of sectors covered: Currently, the PLI scheme covers only a few sectors such as electronics, pharmaceuticals, and textiles. The scheme could be expanded to cover more sectors such as renewable energy and electric vehicles.
Increase in the incentive amount: The incentive amount provided under the PLI scheme could be increased to make it more attractive for manufacturers.
Reduction in compliance burden: The compliance burden for manufacturers could be reduced by simplifying regulations and procedures.
Promotion of research and development: The PLI scheme could be used to promote research and development in various sectors by providing incentives for innovation and technology development.
MSME & Start-up – Involvement of MSMEs and start-ups is missing although they contribute approx 40 % of India’s GDP.
CAPITALIZING ON R&D EXPERTISE
Aggressive Innovations and Alphamax are mainly focusing on in-house product development today. Investing in R&D gives an edge and will also bring opportunities in the long term. It helps the brands to increase productivity and profitability, will enhance the brand and can be more competitive in the marketplace. With the design in hand, Alphamax can be more agile when carrying out research. It can act fast to the specific or changing needs of the business. Keeping research in-house can help prevent leakage of information or intellectual property outside of the organisation.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Bolstering its commitment to help build a truly self-reliant B
CP PLUS is dedicated to spreading a sense of security to every corner of In
Alpha Max offers high end solutions in the network space to en
The vision at Alpha Max is to attain quality as the trademark and create a
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
NUMERIC INDIA, A Group Brand Legrand
GLOBUS INFOCOM LTD.
ACER INDIA PVT. LTD.
QUICK HEAL TECHNOLOGIES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : Dr. Arvind Gupta
Arvind Gupta is the Head and Co-Founder of the Digital India Foundatio...
Icons Of India : Dilip Asbe
At present, Dilip Asbe is heading National Payments Corporation of Ind...
Icons Of India : Arjun Malhotra
Arjun Malhotra, the Chairman of Magic Software Inc., is widely recogni...
PARTNER SPEAKERS
PSU
ITI - ITI Limited
ITI Limited is a leading provider of telecommunications equipment, sol...
C-DOT - Center of Development of Telematics
India’s premier research and development center focused on telecommu...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
