PLI Scheme to make Indian companies global champions : Amitabh Kant

• PLI is a scheme for making Indian companies think big and become global champions to penetrate global markets, said Amitabh Kant
• The former head of NITI Aayog said that the country cannot grow only on the back of services and there needs to be participation from the manufacturing and other segments as well
• Private sector capex will kick in now and it will play a far greater role than the government in the overall trajectory of growth of the Indian economy, said Kant

NEW DELHI : The PLI performance linked incentive scheme that was launched in 2020 is helping companies in India attain global size and penetrate global markets, which is essential for long term sustained growth of the economy, said India’s G20 Sherpa Amitabh Kant.

“PLI says that we will support you year after year for five years but you keep meeting your production targets. If you don’t do that you don’t get the benefits. But if you get that size and scale you will become a global player,” said Kant in an event.

“It is giving you a carrot but for achieving a very high production targets and making you a global player. And we are not extending it for more than five years. So, within those five years, you become a global champion. It’s a scheme for making Indian companies think big and become global champions to penetrate global markets,” said Kant. 

This assumes significance as ever since the PLI scheme was launched in March 2020, there have been many economists and industry players that have questioned the utility and the effectiveness of the government scheme.

On a different note, the former head of NITI Aayog said that the country cannot grow only on the back of services and there needs to be participation from the manufacturing and other segments as well.