Prime Minister Narendra Modi said that the production-linked incentive or the PLI scheme is designed in a way that it would incentivise manufacturing capacities. Citing examples of Apple and Micron, PM Modi, in an exclusive interview to Business Today, said that India is an attractive manufacturing destination.
PM Modi, in an interview to Business Today editors Rahul Kanwal, Sourav Majumdar and Siddharth Zarabi, said that India has the youngest and the most-talented youth in the world. He asked if the Indian youth should not dream of progress and becoming a manufacturing power.
“I want my fellow citizens to have access to facilities as good as those of developed countries. The world is today recognising India’s strength. They are coming here because it is good for their company, their product and their profits,” said PM Modi.
The prime minister added that the efforts that the government has made since 2014 should have been made 40-45 years ago. But, he added, even when the country knew which the right things to do were, the decision makers made the wrong decisions.
“We have been focussing on increasing manufacturing and improving ease of doing business since 2014. Through focus on world class infrastructure, skill development of our workforce, supportive policies and attractive fiscal incentives, we are transforming our manufacturing sector,” said the prime minister.
He gave the examples of Apple and Micron to talk about India’s increasing attractiveness as a manufacturing destination. “The growth of Apple’s manufacturing footprint in India, the decision of Micron to set up semiconductor assembly in India, all show the increasing attractiveness of India as a manufacturing destination,” said PM Modi.
Prime Minister Modi stated, “Building up scale and volume is critical to being able to turn India to a competitive alternative global production hub. That is where attracting investments and creation of manufacturing capacities is essential for the development of the supply chain. Our PLI schemes are designed to incentivise companies to increase their manufacturing capacities and local value addition year on year.”
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