PLI scheme focuses on incentivising firms to grow fast, boosting India’s manufacturing & export prospects. But in the long run, sectors need to die and be born.
Fitness tech firm GOQii plans to move manufacturing of its wearables out of China, at a time when Apple & other brands are seeking to make more in India.
The incentives, spread over 5 years, will be provided to sectors like auto, automobile components, textile products, white goods like LED screens, processed food products, among others.
Manufacturers indicated that the ongoing relaxation of Covid-19 restrictions, better market conditions and improved demand helped them to secure new work in October.
The Ministry of Statistics and Programme Implementation attributed the decline to a large number of industrial units not operating from the end of March due to the lockdown.
PM’s Economic Advisory Council member V. Anantha Nageswaran says whittling away unwanted rules and regulations will be a step towards fixing the problem.
Index of Industrial Production figures for May are an improvement over the 58% contraction in April, the first full month of the nationwide Covid-19 lockdown.
Evidence suggests a massive shift back to Europe is unlikely because of the ever-growing importance of China. Moving supply chains closer to home might come at a cost.
India’s policy on Myanmar has been to deal with its Generals and maintain a distance from the country’s insurgent groups and political struggles. This will have to change.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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