ENA Sectors 2024-07-05 16:43:14 <p><span style="font-size:14px"><strong>New Delhi, Jul 5 (KNN)</strong> 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.</span></p> <p><span style="font-size:14px">Minister Goyal stressed that the scheme is intended as a catalyst for the sector's growth rather than a long-term subsidy.</span></p> <p><span style="font-size:14px"> 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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">These initiatives, introduced during the Covid-19 pandemic in 2020, aim to boost domestic manufacturing and exports.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">He highlighted that 18 initial public offerings (IPOs) have occurred in the first half of the year, indicating a vibrant financial landscape.</span></p> <p><span style="font-size:14px">The minister's remarks included a critique of certain political promises, suggesting they could undermine national self-reliance.</span></p> <p><span style="font-size:14px">This comment appeared to reference recent election pledges made by opposition leaders.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38490 https://knnindia.co.in/news/newsdetails/sectors/pli-scheme-for-drones-aimed-at-initial-boost-not-long-term-subsidy-piyush-goyal 2024-07-05 16:43:14 knnindia.co.in