Govt will provide impetus to make India manufacturing hub: Jitin Prasada

Union minister of state for electronics and IT and commerce and industry Jitin Prasada has said the government will provide necessary thrust to ensure India becomes a manufacturing hub. Prasada said production linked incentive (PLI) schemes will pave the way for India to become a manufacturing hub, adding that the products made in India are of quality standards and acceptable across the globe.

“Even before the full disbursement of PLI scheme has happened, we are seeing a good amount of investment happening in plant and machinery, creation of new jobs with increase in production. The good part is that in spite of the PLI scheme not incentivising exports and no disbursements happened for exports, we have ensured ₹4 lakh crore of exports. It shows that our products are of quality standards and acceptable around the world. The government will give the necessary thrust and support to ensure India does become the manufacturing hub,” Prasada said, addressing the 10th FICCI awards and conference for excellence in quality systems in New Delhi on Tuesday.

Value addition is one of the key focus areas for the government, he said. “We ensure that we get the best technology transfer. We will ensure that the value addition in our products happens. In next five years, I can assure you that in the air conditioner sector, 75% will be indigenised, and India will be producing quality standard air conditioners,” he noted.

Keeping in view India's vision of becoming 'Atmanirbhar', PLI schemes for 14 key sectors have been announced with an outlay of ₹1.97 lakh crore to enhance India's manufacturing capabilities and exports. As on date, 755 applications have been approved across fourteen sectors. Investments of ₹1.23 lakh crore have been realised till March 2024, resulting in employment generation of around 8 lakh.

Highlighting the importance of the MSME sector, Prasada said it was one of the priority sectors for the government. He said that the recent Budget also focused on the MSME as it had the potential to create more jobs. “MSMEs are going to be driving the employment and the job creation market in India,” he added.