'Govt Wants To Reduce Compliance Burden': PM Modi To India Inc On PLI Schemes

PM Modi interacted with India Inc for expanding domestic manufacturing and exports. PM said that he expects a doubling of the workforce in PLI sectors in the next five years

New Delhi: Prime Minister Narendra Modi announced a special initiative to boost domestic production in a webinar on incentive schemes for manufacturing.

While interacting with India Inc for information sharing and brainstorming on PLI schemes, PM Modi said the PLI scheme is aimed at expanding domestic manufacturing and boosting exports.

Asserting on the need for effective engagement of all stakeholders of development, PM Modi said the Union Budget and India's policy-making shouldn't just be restricted to a government process.

"Every stakeholder associated with the development of the country should have an effective engagement in it," the Prime Minister said during a webinar on the PLI schemes.

He said, “The budget of the central government and the policy of the country should not be limited to the government only. Every party involved in the development of the country should be a part of it. We have to take big steps. In the case of production, speed and quantity should be increased. After experiencing the Corona situation over the past year, I am convinced that it is India's responsibility. It's not just a matter of moving fast. Production changes every aspect of the economy.

The Prime Minister further said, “Our government is on the path of reform in the field of production. Our policies and strategies are clear. We are for minimum government and maximum good governance. We want to solve all the problems. We have to work day and night to take our country's companies and manufacturing industry to the forefront of global competition.

PM Modi further said, 'We are trying to reduce the workload at the center and state level. Our goal is self-regulation and self-certification. If the scope of production increases, employment will also increase. The government is taking steps to improve the manufacturing sector. Hopefully, the number of workers in the manufacturing sector will double in the next five years. We need to work together to make production costs, quality and efficiency international. "

PM Modi further said that he expects a doubling of the workforce in PLI sectors in the next five years.

"Enhanced manufacturing capacity increases job openings and the government has taken reform measures to boost manufacturing," PM Modi said.

"We need to work together to bring production cost, quality and efficiency at par with international benchmarks," PM Modi said.

Today, the Prime Minister also mentioned the 'Make India' project. He said 13 sectors such as cars and medicines would come under the incentive scheme. The textile and food processing industry will benefit through this project. This will also benefit the agriculture sector. 2 lakh crore has been allocated in the incentive scheme.