India eases visa rules for Chinese employees in PLI sectors
What's the story
India has introduced new regulations to speed up visa processing for Chinese nationals employed in the Production Linked Incentive (PLI) sectors, a government insider told Moneycontrol.
The updated visa guidelines aim to expedite approvals, which have been experiencing delays.
The Ministry of Home Affairs and the Ministry of External Affairs have jointly developed a new Standard Operating Procedure (SOP) specifically for those employed in the PLI sector.
This development occurs amid strained relations between the two countries.
Details
Visa delays impacting investments and expertise
During an evaluation of the PLI scheme, corporate executives requested that the government hasten visas for Chinese professionals, as delays were hindering investments.
Moreover, there were cases where vendors needed the expertise of professionals in China. Initiated in 2020, the PLI program currently encompasses 14 sectors, from steel to drones, among others.
Talks to include additional sectors are underway.
What Next?
Review focuses on six sectors with underutilized PLI
Of the 14 sectors in the PLI, only eight are performing satisfactorily.
The sectors include large-scale electronics manufacturing (LSEM), IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom & networking products, food processing, and drones & drone components.
The assessment will concentrate on the remaining six sectors where the program has not reached full utilization.
The scheme's total allocation of Rs. 1.97 lakh crore is to be distributed. However, only Rs. 2,900 crore has been disbursed so far.