It is reported that a project worth Rs 170,000 crore will be introduced to attract companies.
The Center is reportedly planning big projects to help the country’s industrial sector recover from the Covid impact.
According to the report, $ 23 billion (Rs. 1,70,000 crore) in benefits are being earmarked for attracting various companies to set up manufacturing plants in the country.
Benefits reach companies in the automobile, solar panel, consumer products, textile, food processing and pharmaceutical sectors.
It is also designed under the PLI Benefit Scheme introduced by the government earlier this year. The detailed design of the project will be submitted to the Union Cabinet for approval soon.
According to economists, the project, which focuses on the solar and electronics sectors, which could attract huge investments, will benefit the country. The aim of the government is to expand the scheme to all areas where there is potential for economic upliftment.
The scheme will also be extended to the areas of furniture, plastics, toys and affordable consumer goods, which were previously imported in large quantities from China.
In this way, Make in India will be empowered.
Big companies such as Samsung, Apple, Foxconn and Wistron have already pledged $ 1.5 billion to build mobile manufacturing plants in the country.According to reports, the revival of the economy in the country will be possible in this way.