Business

Centre incentivises import substitution

The government proposes to incentivise operations of domestic equipment manufacturers such as BHEL, L&T, and Bharat Forge that results in manufacture of equipment that is currently being imported, particularly from countries such as China.

migrator

Published:20th Aug, 2020 at 12:50 AM

New Delhi

Official sources said a productivity-linked incentive (PLI) scheme involving phased manufacturing programme is being finalised for certain equipment used by the power sector. Once implemented, this would provide incentives to domestic companies on sales of equipment manufactured by them that is currently being imported.

In the electronics sector, the Centre already has a PLI scheme that extends an incentive of 4 to 6 pc on incremental sales (over base year) of goods made in India and covered under target segments.

In 2018-19, India’s total imports in conventional power sector were to the tune of Rs 75,000 crore.

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Centre incentivises import substitution

The government proposes to incentivise operations of domestic equipment manufacturers such as BHEL, L&amp;T, and Bharat Forge that results in manufacture of equipment that is currently being imported, particularly from countries such as China.

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The government proposes to incentivise operations of domestic equipment manufacturers such as BHEL, L&T, and Bharat Forge that results in manufacture of equipment that is currently being imported, particularly from countries such as China.