PLI Scheme For Drones Aimed At Initial Boost, Not Long-Term Subsidy: Piyush Goyal

New Delhi, Jul 5 (KNN) In a statement delivered at a PHD Chamber of Commerce and Industry event on Thursday, Commerce and Industry Minister Piyush Goyal clarified the government's stance on the Production-Linked Incentive (PLI) scheme for drone components.

Minister Goyal stressed that the scheme is intended as a catalyst for the sector's growth rather than a long-term subsidy.

"The PLI scheme is not an end to itself. Its purpose is to kickstart... it is not a permanent subsidy," Goyal stated, emphasising the government's aim to foster industry independence rather than reliance on government support.

The minister's comments come in the context of India's broader economic strategy, which includes PLI schemes across 14 sectors with a total outlay of Rs 1.97 lakh crore.

These initiatives, introduced during the Covid-19 pandemic in 2020, aim to boost domestic manufacturing and exports.

Goyal also addressed broader economic issues, noting the robust growth of India's stock market and increasing international interest in trade and investment partnerships with India.

He highlighted that 18 initial public offerings (IPOs) have occurred in the first half of the year, indicating a vibrant financial landscape.

The minister's remarks included a critique of certain political promises, suggesting they could undermine national self-reliance.

This comment appeared to reference recent election pledges made by opposition leaders.

In conclusion, Goyal reaffirmed the government's commitment to supporting industry through improved ease of doing business, manufacturing facilities, and financial support, while encouraging self-sufficiency and growth in the private sector.

(KNN Bureau)