Economy

‘Game changer’: Anand Mahindra says Centre’s PLI scheme signals growth for stressed sectors

Our Bureau Mumbai | Updated on November 17, 2020 Published on November 17, 2020

Anand Mahindra, Chairman of the Mahindra Group, on Monday called the recent Production-Linked Incentive (PLI) scheme announced by the Centre for 10 more sectors, including automobiles, a ‘game-changer’.

Finance Minister Nirmala Sitharaman had announced a ₹2.65-lakh-crore Atmanirbhar Bharat 3.0 stimulus package last week to various stressed sectors and individuals.

“I took some time to explore the contours of this initiative. I don’t use the term ‘game-changer’ too often but it’s apt in this case. For me, what’s more important than the mechanics of the scheme is the dramatic shift it signals in the attitude towards industry,” Mahindra said on Twitter, retweeting the CEO of Niti Aayog Amitabh Kant’s tweet.

Kant’s tweet congratulated Prime Minister Narendra Modi for providing a “major impetus” to manufacturing and exports by approving Niti Aayog’s proposal to introduce the PLI scheme in ten sectors.

In a three-part series, Mahindra said that he started his career during the License Raj time or the pre-liberalisation time, wherein scale and growth were frowned upon. “Finally, this policy signals recognition that a) Scale is imperative in order to nurture globally competitive businesses b) Large enterprises foster a large ecosystem of small/micro enterprises,” he said in his second tweet.

“It makes eminent sense to initially catalyse the growth of selected sectors with world-beating potential. I believe the chosen industries will rise to the challenge if the policy is applied consistently and transparently,” his final tweet said.

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Published on November 17, 2020
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