USIBC Pushes for PLI Scheme for Media in Upcoming Budget

22 Jul 2024 CW Team

The U.S. India Business Council (USIBC) has recommended the introduction of a Production Linked Incentive (PLI) scheme for the media and entertainment industry in the upcoming Union Budget. This recommendation aims to stimulate growth and create job opportunities within the sector.

According to the USIBC, the media and entertainment industry holds significant potential for economic expansion and job creation. The PLI scheme, similar to those implemented in other sectors, is proposed to incentivize investments and enhance competitiveness. The USIBC believes that such a scheme would attract global players, encourage domestic production, and support the industry?s infrastructure development.

The council's recommendation aligns with broader efforts to promote India as a global hub for media and entertainment. By offering financial incentives, the USIBC expects the PLI scheme to foster innovation, support small and medium enterprises, and boost overall sectoral growth.

Additionally, the USIBC has suggested that the scheme include provisions for digital content production, which is rapidly growing and integral to the media landscape. The proposed incentives could cover various aspects, from content creation to technological advancements and distribution networks.

The USIBC?s call for a PLI scheme reflects its confidence in the sector?s potential and its commitment to supporting India?s economic and cultural development through strategic investments.

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