PLI schemes have started to yield desired outcomes
desired outcomes such as localisation of medical technologies, bulk drugs, electronics, and specialty steel among others, top government officials said Saturday. Addressing a session during 96th Annual Convention of the Federation of Indian Chambers of Commerce & Industry (FICCI), IT secretary, S Krishnan also said that the Digital Personal Data Protection (DPDP) rules will be ready in a few weeks.
“The DPDP Act balances the need for regulation, and personal data being secure against the need for innovation.
We've managed to hit the sweet spot where everyone seems to find it broadly acceptable. The rules will come out in a few weeks and that should top off a good year on the regulation side,” Krishnan said.
Highlighting the need for more localisation of electronic goods in the country, Krishnan said that no one country has more than 40-45% of the value chain in this sector, including China.
“Currently our value chain is about 10-15% of the total value addition. We are still at the assembly line stage and most of the inputs get imported…If we have to be truly competitive once the PLI goes, then you need to be looking at least 30-35% of the value chain including components being made in India, that is critical.”
Pointing out that the PLI for Food Processing are on track, Anita Praveen, Secretary, Ministry of Food Processing Industries said that more than 2 lakh jobs have been added to the 80 lakh existing ones in this sector.
