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Monthly Policy Brief | February 2024

The February edition of the Monthly Policy Brief highlights key policy developments in India,  and across several sectors. It starts with the extension and amendment of the Production Linked Incentive (PLI) Scheme for the Automobile and Auto Components sector, indicating the government's support for automotive industry growth. This revision aims to provide clarity and flexibility to stakeholders, with a new performance threshold for incentive eligibility and a total indicative incentive of Rs. 25,938 crore.

The brief also captures details on National Highways Authority of India's (NHAI) 'One Vehicle One FASTag' initiative, aimed at streamlining toll payments nationwide, and GIFT City's pioneering efforts in establishing a global hydrogen trading mechanism. Furthermore, it discusses updates with respect to pharmaceutical manufacturing regulations by the Health Ministry, designed to enhance the quality and safety of medicines.

Additionally, the introduction of the Trade e-Connect platform is highlighted, aiming to facilitate seamless trade by providing a single window for all trade-related issues and queries. The brief also discusses the formation of the Board of Trade, which seeks to offer continuous dialogue and consultation with the trade and industry sectors to enhance India's trade policies and exports.