What's Happening?
The Agro Chem Federation of India (ACFI) has urged the government to introduce a Production-linked Incentive (PLI) scheme to enhance domestic agrochemical manufacturing and reduce import dependence. The industry faces challenges from reliance on imported technical ingredients, posing strategic risks. ACFI advocates for tax holidays and the establishment of manufacturing hubs to strengthen India's position in the global supply chain. The call for PLI aims to foster self-reliance and boost agricultural productivity.
Why It's Important?
The proposed PLI scheme is crucial for reducing import dependence and enhancing domestic production capabilities in the agrochemical sector. By fostering self-reliance, India can mitigate risks associated with geopolitical tensions and supply chain disruptions. The initiative supports agricultural productivity and contributes to the global food supply chain. Strengthening domestic manufacturing can also boost economic growth and create job opportunities. The PLI scheme aligns with broader efforts to enhance India's industrial capabilities and competitiveness.
