Q. With reference to Production Linked Incentive (PLI) schemes, consider the following statements:
1. It aims to promote the local companies to setup or expand their manufacturing units.
2. It restricts the foreign investors to set up their manufacturing units in India.
Which of the statements given above is/are correct?
Statement 1 is correct: It aims to promote the local manufacturers to expand their manufacturing. Under the Scheme, companies will get incentives on incremental sales from products manufactured in domestic units.
Statement 2 is incorrect: The major aim of the scheme is to invite foreign investors to set up their manufacturing units in India.