The central government is considering providing financial support under the production-linked incentive (PLI) scheme to boost domestic manufacturing in chemicals and petrochemicals sectors, Union Finance Minister Nirmala Sitharaman said on Thursday.
“We are in favour of having India becoming a manufacturing hub, and therefore, of course, we will consider PLI also for chemicals and petrochemicals,” Sitharaman said at an industry event.
The PLI scheme was launched in April 2020 in order to provide support to manufacturing in some selected sectors. So far the benefits of this scheme have been extended to 14 sectors with an incentive outlay of Rs 1.97 lakh crore ($26 billion).
