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Cabinet approves PLI Scheme to 10 key Sectors for Enhancing India’s Manufacturing Capabilities & Enhancing Exports
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its approval to introduce the Production-Linked Incentive (PLI) Scheme in the following 10 key sectors for Enhancing India’s Manufacturing Capabilities and Enhancing Exports – Atmanirbhar Bharat. The PLI scheme will be implemented by the concerned ministries/departments and will be within the overall financial limits prescribed.
MEITY has prepared a strategy paper entitled “National Strategy on Additive manufacturing (AM)” for promoting various verticals of the AM sector
To keep pace with rapid global manufacturing prowess, India needs to adopt an integrated approach to additive manufacturing in all segments including defence and public sectors, especially within the nation?s small, medium and large-scale industries. The National Strategy on Additive manufacturing (AM) will aim to create a conducive ecosystem for design, development and deployment, and to overcome technical and economic barriers for Global AM leaders to set up their operations with supporting ancillaries in India, facilitating development of the domestic market and enhancement of global market share.
EV a $206 billion opportunity for India by 2030
Should India achieve its 2030 electric vehicle ambition and targets, it would present a market opportunity worth nearly $206 billion in the course of this decade, says an independent study released by the CEEW Centre for Energy Finance (CEEW-CEF). The study also estimates a cumulative investment need of over $180 billion in vehicle production and charging infrastructure until 2030 to meet India’s EV ambition. While India is yet to officially spell out its electrification targets for 2030, the aspiration as stipulated by NITI Aayog-government’s primary think tank, states that 70% of all commercial cars, 30% of private cars, 40 % of buses, and 80% of two-wheeler (2W) and three-wheeler (3W) sales would be electric by the end of this new decade.
Inter-Ministerial Committee for Capital Goods Sector.
The govt. has set up a 22-member inter-ministerial committee in strengthening the Capital Goods (CG) Sector through interventions that help the CG Sector in contributing more actively in the national goal of achieving a USD 5 trillion economy and a USD 1 trillion manufacturing sector. The IMC will help DHI in taking a holistic view for all the issues pertaining to the CG Sector. The Committee will look into on all such issues pertaining to the Capital Goods Sector including technology development, mother technology development, global value chains, testing, skill training, global standards, reciprocity issues, custom duties to make this sector globally competitive and to become the manufacturing hub for the world.