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CII CEOs Quotes on Extension of PLI Scheme to 10 Manufacturing Sectors

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Warmly welcoming the Cabinet decision on extending PLI to 10 more sectors, Mr Uday Kotak, President, CII stated, “The new PLI policy is transformational and timely and will facilitate India becoming a global manufacturing hub. The policy is strategically targeted and will go a long way to boost production, make Indian goods competitive and expand exports as part of global value chains.

It identifies the right sectors and products across core industries, labour-intensive manufacturing, and export-oriented sectors as well as advanced technology products. A futuristic and progressive policy, the PLI scheme stands to ensure that India reaches the top echelons of global manufacturing nations and would help in driving an Aatmanirbhar Bharat. CII compliments Hon’ble Prime Minister Modi and his Government on this strategic decision which sets a new era for Make in India.”

Mr Chandrajit Banerjee, Director General, CII, stated, “The new PLI scheme for 10 champion manufacturing sectors truly delivers on Hon’ble Prime Minister’s vision for Make in India and Aatmanirbhar Bharat. Given the rousing success of the earlier PLI policy, we strongly believe that this will impart huge momentum to India’s manufacturing sector at a time when the economy needed a strong booster shot.

With an outlay of Rs 2 trillion, the scheme will have multiplier impact on India’s manufacturing investments, while enabling a range of products, including cutting-edge technology products, to be competitive in global markets. CII has been working with the Government on Champion manufacturing sectors and the new policy is in alignment with our expectations. We thank Hon’ble Prime Minister and the Government of India for providing a level playing field to Indian producers that will take Indian manufacturing to new heights.”

Mr Adi Godrej, Past President, CIi, and Chairman, Godrej Group, said, “Bringing food processing under PLI scheme would revolutionize the sector. While India is world’s leading producer of fruits, vegetables and milk but the percentage of processing is much below the global average. We process only 7% of the total farm produce. The PLI scheme would help attracting more investment into the sector, both domestic and foreign investment.”

Mr T V Narendran, President Designate, CII and CEO and Managing Director, Tata Steel Limited, said, “With the government extending the Production Linked Incentives (PLI) scheme to 10 champion sectors including steel, India’s manufacturing growth is bound to catch even more pace. The robust performance of the steel industry has a multiplier effect on other industries as well. Steel being one of the most strategically important sector, this scheme will prove to be a gamechanger and help achieving the goal of India becoming a champion in certain grades of steel while enhancing manufacturing capabilities for value added steel leading to increase in total exports.”

Mr Baba Kalyani, Chairman, Manufacturing Council of CII and CMD, Bharat Forge Ltd, said, “The inclusion of high-demand high-technology items such as semi-conductor fab, IoT devices and ACC batteries in the newly announced PLI scheme will greatly boost India’s manufacturing capacities & catapult it among major manufacturing hubs. Looking forward to a huge positive impact!”.

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