Government of India Discusses PLI Scheme Enhancements with Foxconn, Samsung, Wistron – Report
In an effort to enhance manufacturing in India through its production-linked incentive (PLI) program, the Indian government held discussions with major global corporations including Foxconn, Samsung Electronics, and Reliance Industries.
India’s Commerce Minister Piyush Goyal spoke at a meeting on Tuesday to worry that some companies had experienced delays in taking advantage of New Delhi’s incentives amid complex procedures.
Discussions covered ways to improve local production at competitive costs, higher domestic production value added and speedy handling of complaints, the government said in a statement on Wednesday.
The meeting was also attended by executives from iPhone maker Wistron, laptop maker Dell, telecommunications company Nokia Solutions and others who benefited from the scheme’s incentives.
The PLI scheme, introduced in late 2020, is Prime Minister Narendra Modi’s main industrial policy to boost production.
The government has so far announced incentives for 14 sectors, including electronics and technology products, pharmaceuticals and drones, with investments totaling 625 billion Indian rupees ($7.62 billion) until March 2023, according to the statement.
Investments under the PLI scheme are expected to rise further to Rs 2.74 trillion as it progresses, according to government estimates.
More than 1.97 trillion rupees had been earmarked for incentives, with payments totaling 29 billion rupees until 2023 across eight sectors.
