Prime Minister Narendra Modi on Friday interacted with India Inc for information sharing and brainstorming on Production Linked Incentive (PLI) schemes. Addressing a webinar, he asserted that Union Budget and the country’s policy-making shouldn’t just be restricted to a govt process.

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“Every stakeholder associated with the development of the country should have an effective engagement in it”, he said.

On measures for boosting domestic manufacturing, PM Modi said the government wants to reduce the compliance burden.

"Our effort is to reduce 6,000 compliances burden on entities. Self-regulation and self-certification is the way ahead," he added.

PM further said, "Can’t have exports and production from only certain geographical regions in India. Industrial incentives used to be an open-ended subsidy scheme. We now have a targeted intervention through incentive schemes. Auto and PLI schemes will ensure that import dependence will become less,"

He further said that he expects a doubling of the workforce in PLI sectors in the next 5 years.

First Published:Mar 5, 2021 11:33 AM IST