✓The Union Cabinet has given its approval to introduce the Production-Linked Incentive (PLI) Scheme in 10 more sectors for enhancing India’s manufacturing capabilities and exports (Atmanirbhar Bharat).
✓ Earlier, the government had announced a production linked incentive or PLI scheme for medical devices, mobile phones and specified active pharmaceutical ingredients, with a proposed outlay of Rs. 51,311 crore.
✓ The scheme aims to give companies incentives on incremental sales from products manufactured in domestic units.
✓ The scheme invites foreign companies to set units in India, however, it also aims to encourage local companies to set up or expand existing manufacturing units.
*Expansion of PLI Scheme to Ten More Sectors:
✓The ten sectors include food processing, telecom, electronics, textiles, specialty steel, automobiles and auto components, solar photo-voltaic modules and white goods such as air conditioners and LEDs.
✓The sectors had been identified on the basis of their potential to create jobs and make India self-reliant.