PLI Schemes would help to increase the manufacturing sector's share in the GDP
Ashish P. Dhakan, MD & CEO, Prama Hikvision India
“Leading international companies are expanding production at their newly set up units in India after the government launched attractive initiatives such as the production-linked incentive (PLI) scheme for smartphones and other technology-driven sectors. Buoyed by the surge in interest from global manufacturers, the government is also planning PLI for other sectors to boost domestic manufacturing. Such incentives like PLI Schemes would certainly help India increase the manufacturing sector's share in the GDP significantly. Foreign and Indian Firms are also expanding their factories to take advantage of the PLI scheme. We are currently evaluating the PLI schemes.
We are looking at PLI Scheme as a big boost to the local manufacturing sector. Our company is keenly studying the policy framework offered by the government, and its impact on the electronic security manufacturing. The government has introduced the Production-Linked Incentive (PLI) Scheme in the 10 key sectors for improving India’s manufacturing capabilities and enhancing exports. It is an important step towards empowering manufacturing sector for a self-reliant India (Atmanirbhar Bharat). We are hopeful of a better outcome.
We are impressed by the proactive steps taken by the government to bolster the local manufacturing sector with help of PLI scheme. It is a very recent development and we have seen the key beneficiaries of these schemes are mostly from the Mobile, White Goods, Pharma and Medical Equipment segments. We are looking for clarity on special incentives being offered to the electronic security system manufacturers. We are looking forward to it as a positive step, more clarity about the PLI scheme would certainly help to develop the Indian security product manufacturing ecosystem.
The key challenge remains the clarity on eligibility criteria, process flow and successful rollout of PLI scheme. We foresee lots of opportunities for our organization in PLI scheme, but there is little more clarity required to avail the advantages by making the required investment in the local manufacturing.”
Snowflake rolls out Native Application Framework to help developers build applications
Snowflake announced at its annual user conference, Snowflake Summit 2022, the launch of ap...
Aruba & Forrester study says optimizing operational efficiency is a top business priority
Aruba, a Hewlett Packard Enterprise company, announced the findings of a study it commissi...
Qualcomm unveils its AI Stack Portfolio
Qualcomm Technologies, Inc. announced its AI Stack portfolio, accelerating the company&rsq...
Prama Excellence Meet conducted in Mumbai to showcase its surveillance products
Prama India has organized its third part of ‘PRAMA EXCELLENCE MEET’ event in M...
PRAMA hosts its EXCELLENCE MEET in New Delhi
Prama India has organized its Pan India Roadshows with its second event recently at New De...
Grassroots Channels announces a multicity, daylong event “Surveillance Unmasked”
Grassroots Channels has announced the launch of “Surveillance Unmasked” progra...
ManageEngine celebrates two decades of Technology Innovation
Celebrating 20 years of ManageEngine, the company has hosted a conference on May 19 at the...