Govt mulling extension of PLI scheme to some labour-intensive sectors, says DPIIT Secretary

The government provides financial incentives under the PLI scheme to as many as 14 sectors such as telecommunication, white goods, textiles and pharma.

Apart from providing financial incentives under the PLI scheme to as many as 14 sectors such as telecommunication, white goods, textiles and pharma, the government is considering extending the benefits of the PLI scheme to some labour-intensive industries like toys, leather and footwear.

"PLI scheme is showing significant dividends across many sectors. The intention is to also roll out this PLI scheme for more labour-intensive sectors such as toys, leather and footwear and other such sectors where employment benefits will be more significant," Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said here at an industry interaction.

Singh also said India attracted significant foreign direct investment (FDI) last year. "Our FDI policy is practically open sky in the sense that except for defence and certain strategic sectors, everything else is open and is automatic," he said.

Singh said that the country's macroeconomic fundamentals are strong and growing at a healthy rate.

"We have a stable government and Regulatory systems are stable and predictable" and due to this, India would be able to attract investments from across the world, he added.

(Inputs from PTI)