Credit Suisse praises Modi government’s scheme

Credit Suisse, the leading financial services company, has praised the Production-Linked Incentive Scheme of the Modi government in its latest report. The Centre’s PLI scheme has come in for praise from Credit Suisse, which has said that India’s share of global goods exports are now at a record high. On a day when 115 companies filed applications to seek benefits under the PLI scheme for the automobile and auto component sector, Credit Suisse said that PLI represents a significant turn in industrial policy.

The report estimates that incremental sales generated as a result of the PLI and related schemes could clock $134 billion by 2027. “The domestic value added due to the PLI scheme could reach $61 billion by the fifth year,” reports Swarajya, quoting the report. 

Analyzing the trends, columnist Aashish Chandorkar wrote that large exports growth contribution in recent quarters has come from manufactured goods. 

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