The Indian Government has announced production-linked incentive (PLI) scheme for 13 key sectors. The key sectors covered under the scheme include telecommunication, food processing, medical devices, automobile and its components, textiles and solar PV modules.
Addressing the FICCI’s 44th joint meeting of the India-Japan Business Cooperation Committee, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said that, the government has undertaken several policy reforms, including PLI scheme, to boost manufacturing and exports.
He also said, India is looking forward to a greater participation from Japan in the programme. Both the countries are working for enhancing India’s industrial competitiveness
“India and Japan are collaborating in the form of India-Japan industrial competitiveness partnership. As a part of this partnership, it is proposed that governments of India and Japan will jointly work towards enhancing India’s industrial competitiveness, and the discussions have started, joint working groups have been formed and we are making very steady progress,” he added.
Japan has announced an incentive package to help Japanese companies in this new era, and it provides India an unique opportunity to attract fresh Japanese investments into India.
Speaking at the webinar, Japanese Ambassador to India Satoshi Suzuki said it is important for India to have a more stable business environment to further strengthen bilateral economic ties.