Govt mulls launching PLI scheme for chemical sector

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The authorities is contemplating launching a manufacturing linked incentive (PLI) scheme within the chemical sector to spice up home manufacturing and exports. Addressing a webinar on ‘Implementation Strategy of Budget Announcement 2021-22’, Chemicals and Fertilisers Minister D V Sadananda Gowda on Friday mentioned the federal government is engaged on a consultative strategy in forming the insurance policies for India’s chemical substances and petrochemicals sector.

The webinar was organised by the Department of Chemicals & Petrochemicals and FICCI.

“Implementations of the Budget bulletins can’t be finished solely by the federal government.

“We should take our industry in confidence so that implementations can start from first week of April. The challenge for the government is to now match the suggestions of the industry with the implementation part,” he was quoted as saying in a FICCI assertion.

Gowda mentioned the Budget has supplied a lift to the Indian pharmaceutical sector.

“The big push for the pharma sector is being seen as an attempt to discourage the imports of raw materials that are widely used in local manufacturing,” he mentioned.

Mansukh Mandaviya, Minister of State for Chemicals & Fertilizers, mentioned that the federal government is working to introduce PLI scheme for the chemical substances sector to extend home manufacturing, in line with FICCI assertion.

There are immense alternatives for the business and the federal government is working to make sure to supply all obligatory help, he added.

“The government decides on policies after a thorough research on ground and wants to make the industry competitive. We have to encash the opportunity,” he added.

Mandaviya additional mentioned that India has each the potential and the manpower to cope with the pandemic.

The results of medication diplomacy has been such that the complete world now desires to acquire vaccines from India, he mentioned.

After supplying medicines to 120 nations, no nation has complained of inferior high quality medication.

The Indian business, its entrepreneurs and the Made in India stamp have set a benchmark globally, he famous.

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