New Delhi, Feb 5 (KNN) Union Minister of Commerce and Industry, Piyush Goyal advocated for collaborative efforts and constructive feedback from the industry to shape the policies of the Production Linked Incentive (PLI) scheme, on Saturday.

Speaking at the 'PLI Perspectives: A Stakeholder Meeting' in New Delhi organised by Department for Promotion of Industry & Internal Trade (DPIIT), he commended PLI beneficiaries for contributing to the nation's vision of making India a global manufacturing hub.

Goyal urged industry leaders to intensify their focus on enhancing competitiveness, fostering an innovative and efficient business environment.

He emphasised the need for prioritising the production of high-quality goods, aligning with the broader objective of the PLI Scheme to benefit both businesses and consumers.

Highlighting the importance of cooperative collaboration, Goyal urged beneficiary companies to work closely with the government, fostering a collaborative ecosystem for sustainable growth. He stressed regular consultations and roundtables between government officials and PLI beneficiaries.

The meeting discussed the achievements of PLI Schemes, with Rs 1.07 lakh crore investments resulting in production/sales worth Rs 8.70 lakh crore and generating around 7 lakhs jobs.

Exports surpassed Rs 3.40 lakh crore, with significant contributions from electronics, pharmaceuticals, and food processing. Approximately Rs 4,415 crore in incentives were disbursed under the PLI Scheme for 8 sectors.

DPIIT Secretary, Rajesh Kumar Singh, highlighted the potential of the PLI Scheme to revolutionise the manufacturing sector. Interactive sessions covering all 14 sectors explored collaboration areas between the government and industry, aiming to create a clear action plan for successful PLI Scheme implementation.

Representatives from beneficiary companies shared their perspectives, experiences, challenges, and suggestions for improvement during interactive sessions, fostering open communication. The meeting aimed to address challenges promptly, with a commitment to the successful implementation of PLI Schemes.

The gathering of 1200 delegates from beneficiary companies, along with senior officials from NITI Aayog and 10 implementing Ministries/Departments, concluded with a joint commitment to actively engage in PLI Schemes and maximise incentive utilisation.

(KNN Bureau)