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PLI scheme will transform India as global mfg hub: Kishan
Union Tourism Minister G Kishan Reddy said production-linked incentive (PLI) scheme will transform India into a global manufacturing hub.
Visakhapatnam: Union Tourism Minister G Kishan Reddy said production-linked incentive (PLI) scheme will transform India into a global manufacturing hub. Keeping in view India's vision to make it 'Atmanirbhar', the Union government is implementing PLI schemes in 14 key sectors, including a few mobile manufacturing, electronics, food products, pharmaceuticals API, medical devices, batteries, automobiles and components, technical textiles, etc. More than Rs 2 lakh crore has been budgeted for the PLI, he added.
Addressing the valedictory of Global Investors Summit here on Saturday, the Union minister said AP has a competitive advantage in sectors such as marine products and shrimps, drugs and pharmaceuticals, electronics, petroleum, engineering goods. "The Centre has been continuously supporting Andhra Pradesh. Increase in allocations in railway budget to Rs 8,406 crore is one such indication. The total investment cost for Visakhapatnam Smart City is Rs 3,000 crore, which again was a Centrally-sponsored scheme," he added.
