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Union Budget 2024: Now’s The Time To Broaden PLI Focus, Urges India’s Electronics Manufacturing Industry

Inc42 · 4m

The upcoming Union Budget 2024-25 in India is generating high expectations from various sectors, including the startup ecosystem and the wider business community. While the government's policies have generally benefited the sunrise industries so far, there are some gaps that need attention. Specifically, there is a need for fine-tuning and extending the benefits of the Production Linked Incentive (PLI) scheme to electronics component manufacturing companies and other related categories. This would create a complete ecosystem and ensure that PLI benefits reach the entire supply chain. Additionally, suggestions have been made to increase funding, provide tax incentives, and reduce GST for private sector electronics R&D investments to promote the development of new technologies.