PLI is a step in the right direction, as it will offer domestic alternatives

Bishan Jain, Director - Goldmedal Electricals

 
"The PLI scheme is an excellent scheme for the Indian manufacturing industry across sectors. It will not only encourage and boost domestic manufacturing but also minimize the import of various parts and components. This scheme will definitely support companies such as ours. As a domestic manufacturer, there is a need for good infrastructure and support from the government.  The electrical manufacturing sector has previously suffered due to a lack of infrastructure, proper domestic supply chain, and logistics. A scheme like the PLI is a step in the right direction, as it will offer us domestic alternatives to imports and remove the restriction of the supply chain. Goldmedal is an ardent supporter of the Make in India initiative and the PLI scheme will help us, like many other domestic manufacturers, to become completely Atmanirbhar and fast-track our manufacturing capabilities and production.

We are ready to make the most of this scheme. Although the Covid-19 pandemic impacted our production, we are confident that we will be able to achieve our target to avail the benefit of the scheme.

This scheme holds great potential and we are looking forward to boosting our manufacturing capacities in the LED and other electrical segments. This scheme will also lower our dependence on imported parts for our LED production.  Since the objective of the PLI scheme is to eliminate sectorial disabilities and promote economical and efficient manufacturing, create a robust production ecosystem, we are looking forward to benefiting from this exceptional output-oriented scheme.

Currently, one of the biggest roadblocks has been the pandemic, which impacted our production. However, we are optimistic that we will be able to get back on track soon. The lack of adequate infrastructure, insufficient availability of quality raw materials, and skilled labour are some of the other challenges that might hinder our production and thereby affect our chances of getting the PLI scheme. Having said that, we also see this as an opportunity to focus and adopt new technologies that will accelerate and improve production. It will enable us to achieve economies of scale that will benefit us in the long run. Finally we also see this as an opportunity to accelerate our business sustainability efforts by optimizing the supply chain and using locally sourced sustainable materials for production."

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