The government of India has decided to extend a production linked incentive scheme known as the PLI scheme to telecom equipment makers.
This extension has been made to benefit the electric car manufacturers, clothing brands, food processing companies and the battery makers.
Total budget of the plan is estimated around Rs 12,195 crore. It will kick start from April 1, 2021 and proceed over the next five years.
Further, lets know what exactly the PLI scheme has to offer. This scheme will offset the imports which are fixed at Rs 50,000 crore.
The scheme will also boost the growth from micro, medium to small enterprises or the MSMEs under Made in India products.
The Indian government expects to have an incremental production of around Rs 2,44,200 crore in various sectors.
Moreover, nearly 62% of second PLI investment around Rs 1.46 trillion will finance car development, batteries and drugs. These developmental projects will run over the next five years.
However, the electric car and also the battery makers along with food processing firms and the clothing brands will be benefited from local manufacturers.
Moving further, IPCA Lab, Amara Raja Batteries Ltd., Exide Industries and the Minda Industries are currently the positive stocks.
This scheme will also cover core transmission equipment, Internet of Things or IOT access devices and wireless equipment among others.
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