After Pharma Sector, Govt To Bring PLI Scheme To Boost Domestic Production Of Agro-Chemicals

In a bid to promote the domestic manufacturing of agro-chemicals, the government is mulling on bringing a production-linked incentive (PLI) scheme for the sector, reports Economic Times.

"Like we brought in the pharma sector, we will bring a production-linked incentive scheme for chemicals which are used in agro. Some basic chemicals are the same for all," Minister of State for Chemicals and Fertilisers Mansukh Mandaviya announced on Thursday (5 November).

The minister made the announcement while addressing a webinar organised by Ficci-HIL.

He said that the sector can progress by adopting a multi-pronged approach.

Mandaviya assured that the Centre will not bring any such laws that will adversely impact the growth of the industry as well as the country.

The minister also promised to meet the industry players to address their concerns and said that the government was aware of the challenges being faced by the industry.

The minister said that the government realises the importance of the industry for the country's economy and generating jobs, and therefore wants the industry to progress.

"Our government is pro-poor, pro-farmers but industry friendly. ...We don't tax the poor and farmers. Industry is important as it only generates employment but also revenue to the government through payment of taxes," he added.