Impact of Production Linked Incentive Scheme on the Manufacturing Sector By Yash Bhatt For the past couple of decades, India has been mainly focused on and is generating the
majority
service
of
and
its
revenue
agriculture
from
sector
the .The
incumbent government has always tried to increase the share of manufacturing ,but failed to do so. On the other hand, our competitor neighbour China and even the other small Asian countries like Korea and Japan has been putting a lot of emphasis and
resources
on
the
manufacturing-
based industry and thus became a critical part of the global value chain in various sectors.
This
focus
of
manufacturing
helped them bring in more investments, generate employment and become exportoriented economies.
The ever increasing and dominant manufacturing industry of china is key reason behind its positive
A bit late , but India has finally realized
growth rate even during Covid-19 pandemic
that to achieve a 5 trillion USD economy , focusing
and
manufacturing
emphasizing is
the
key
.
on More
importantly , because of the COVID-19 , the whole supply chain of companies in every industry is disrupted . This pandemic is worse for us than many other countries mentioned
earlier
because
of
our
overdependence on import of so many products .
country , that is the economy ,and thus and
improvement
in
manufacturing based companies is the need of the hour for India .
Infineeti
bolster
the
manufacturing
sector,
the
Government of India has introduced the PLI
This has crushed the backbone of our advancement
To
scheme(Production Linked Incentive Scheme) in April 2020 . Under this scheme, the government plans
to incentivize
the companies of some
selected sectors (3 + 10) , who domestically produce their goods .The aim is to enhance India’s manufacturing capabilities and increase exports
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