International firms expanding production in India
Updated Apr 07, 2021 05:19 am
- Leading international companies are expanding production at their newly setup units in India after the government launched attractive initiatives such as the production-linked incentive (PLI) scheme for smartphones and other technology-driven sectors, Girija Pande, chairman of Apex Avalon Consultancy, said on Monday.
- Buoyed by the surge in interest from global manufacturers, the government is also planning PLI for other sectors to boost domestic manufacturing of wearable devices such as smartwatches. Such incentives would help India increase manufacturing's share in the GDP to 25 per cent in the coming years from the current 17-18 per cent, he pointed out.