'Game-changer': Anand Mahindra on govt's production-linked incentives1 min read . Updated: 17 Nov 2020, 01:23 PM IST
- Anand Mahindra said production-linked incentive (PLI) scheme signals 'dramatic shift' in attitude towards industry
- On 11 November, the Cabinet approved PLI scheme for 10 more sectors, including automobiles and auto parts, pharmaceuticals, textiles and food products
Mahindra Group Chairman Anand Mahindra has said that the government's announcement of a production-linked incentive scheme for 10 more sectors, including auto, signals a "dramatic shift" in the attitude towards industry.
"I took some time to explore the contours of this initiative. I don't use the term 'game-changer' too often but it's apt in this case. For me, what's much more important than the mechanics of the scheme is the dramatic shift it signals in the attitude towards industry," Mahindra said in a tweet.
In another tweet, he said, he started his career during the "License Raj" where scale and growth were "frowned upon."
"Finally, this policy signals recognition that a) scale is imperative in order to nurture globally competitive businesses b) large enterprises foster a large ecosystem of small/micro enterprises," Mahindra said in another tweet.
In third tweet, he said, "It makes eminent sense to initially catalyse the growth of selected sectors with world-beating potential. I believe the chosen industries will rise to the challenge if the policy is applied consistently & transparently."
On 11 November, the Cabinet approved production-linked incentive (PLI) scheme for 10 more sectors, including automobiles and auto parts, pharmaceuticals, textiles and food products, with an outlay of about ₹1,45,980 crore over a period of five years.
The government think tank NITI Aayog identified 10 sectors as key sectors which will help attract investments to shore up revenue