The Centre is mulling to launch a production linked incentive (PLI) scheme in the chemicals sector to bolster domestic manufacturing and exports. Union Chemicals and Fertilisers Minister DV Sadananda Gowda has said the government has adopted a consultative approach for forming policies aimed at the chemicals and petrochemicals sector of the country.
"Implementations of the Budget announcements can't be done only by the government. We should take our industry in confidence so that implementations can start from first week of April," Gowda said at FICCI's webinar on 'Implementation Strategy of Budget Announcement 2021-22'. The Union Minister said the biggest impediment for the government is to meet the suggestions of the industry with policy implementation.
Highlighting the Rs 35,000 allocation towards the development of COVID-19 vaccines in Budget 2021, Gowda said it is looked at as an attempt to reduce raw material imports widely used in local manufacturing. Union Minister of State for Chemicals and Fertilisers Mansukh Mandaviya said that the industry has immense opportunities and the government is working towards providing necessary support. He also talked about India's Vaccine Maitri mission and said that we have potential and manpower to deal with the pandemic.
Mandaviya added it is due to medicine diplomacy that the entire world is looking at India for COVID-19 vaccines and there have been no complains of inferior quality medicine.
Mandaviya noted the Indian industry, its entrepreneurs and the Made in India branding have a set a global benchmark.
With PTI inputs; by Mehak Agarwal