The "Production Linked Incentive (PLI) scheme" has been introduced for various sectors in India. What is the primary goal behind the implementation of this scheme?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. To boost domestic manufacturing and attract investments.
The primary goal of the Production Linked Incentive (PLI) scheme is to transform India into a global manufacturing hub by providing financial incentives to companies based on their incremental sales. It aims to encourage domestic manufacturing, reduce import dependency, and attract large-scale foreign and domestic investments. By focusing on key sectors like electronics, pharmaceuticals, and automobiles, the scheme enhances the global competitiveness of Indian products, creates jobs, and strengthens the overall supply chain.