The government is considering launching a production linked incentive (PLI) scheme in the chemical sector to boost domestic manufacturing and exports. Chemicals and Fertilisers Minister D V Sadananda Gowda has said that the government is working on a consultative approach in forming the policies for India's chemicals and petrochemicals sector. He said ‘we should take our industry in confidence so that implementations can start from first week of April'.
Gowda has stated that the challenge for the government is to now match the suggestions of the industry with the implementation part. He noted that the big push for the pharma sector is being seen as an attempt to discourage the imports of raw materials that are widely used in local manufacturing.
Further, Mansukh Mandaviya, Minister of State for Chemicals & Fertilizers, said that the government is working to introduce PLI scheme for the chemicals sector to increase domestic production. There are immense opportunities for the industry and the government is working to ensure to provide all necessary support. He also said India has both the potential and the manpower to deal with the pandemic. He added that the result of medicine diplomacy has been such that the entire world now wants to procure vaccines from India.