PLI scheme to boost India’s manufacturing output by $520 billion in 5 years, says PM Modi

Prime Minister Narendra Modi has said the production linked incentive (PLI) scheme will boost India’s domestic manufacturing and export abilities and further production by $520 billion in the next five years.

Prime Minister Narendra Modi has said the production linked incentive (PLI) scheme will boost India’s domestic manufacturing and export abilities and further production by $520 billion in the next five years. Addressing a webinar on Friday, PM Modi said the government is continuously carrying out reforms to boost domestic manufacturing. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", said PM Modi.