IKDHVAJ Advisers LLP chairman Harsha Vardhana Singh said that India has the largest tariff lines for the selected products, with tariffs in 2020 being higher than in 2014.
The companies selected for the PLI scheme include Nokia India, HFCL, Dixon Technologies, Flextronics, Foxconn, Coral Telecom, VVDN Technologies, Akashastha Technologies, and GS India.
The Civil Aviation Ministry on Wednesday approved a PLI scheme for drones and drone components with an allocation of Rs 120 crore spread over three financial years.
Of the total amount, Rs 25,938 crore has been set aside for the auto sector, while Rs 120 crore will be offered to encourage production of drones and their parts.
The PLI scheme will incentivize the emergence of advanced automotive technologies' global supply chain in India.
Textiles Secretary UP Singh also said that the ministry has undertaken a comprehensive consultation with all the concerned stakeholders before finalising the scheme.