Latest News | Govt Initiative to Expedite Chinese Technicians' Visas Providing Relief to PLI Firms: Official
Get latest articles and stories on Latest News at LatestLY. The government's initiative to expedite visas of Chinese technicians, whose expertise is required in Indian manufacturing firms in the PLI sector, is providing relief to such companies, a senior government official said on Wednesday.
New Delhi, Nov 20 (PTI) The government's initiative to expedite visas of Chinese technicians, whose expertise is required in Indian manufacturing firms in the PLI sector, is providing relief to such companies, a senior government official said on Wednesday.
Earlier lot of firms used to flag the issue of delay in getting visas for Chinese technicians, who are required for works like installation or repair of certain machines, besides training workers in India.
"Now that pendency has come down. Lot of improvement is there. There is a relief in this for those companies. The Ministry of Home Affairs has taken action pro-actively. In the last two months, things have improved a lot," the official said.
A portal to facilitate these business visas was started to streamline the process.
The PLI (production linked incentive scheme) scheme was announced in 2021 for 14 sectors, including telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 lakh crore.
When asked about PLI disbursement, the official said that at present it is "low", but expressed hope that the disbursement will pick up in the coming months.
The official added that despite low disbursals, investments worth about Rs 1.5 lakh crore have come in plant and machinery and the PLI firms have exported goods worth Rs four lakh crore.
"Disbursement is low, but it will pick up, I am sure," the official said.
Settling PLI claims quarterly is anticipated to boost the performance and sentiment of applicants by improving cash flow, faster disbursement of incentives and enhancement in the efficiency of fund utilisation.
In 2023-24, Rs 6,800 crore was disbursed to PLI beneficiaries.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)