New Delhi: The government on Wednesday said that production-linked incentive or PLI schemes witnessed over Rs 1.03 lakh crore of investment till November 2023, which led to production and sales of Rs 8.61 lakh crore as well. The schemes, however, aim to attract investments in key sectors and cutting-edge technology, ensure efficiency, bring economies of size and scale in the manufacturing sector, and make Indian companies and manufacturers globally competitive.
As per the statement issued by the commerce ministry, in such schemes, it also saw an employment generation, both direct and indirect, of over 6.78 lakhs, while the PLI schemes witnessed exports surpassing Rs 3.20 lakh crore, with significant contributions from sectors such as large-scale electronics manufacturing, pharmaceuticals, food processing, and telecom & networking products among others.
However, a top official said that the government has disbursed Rs 4,415 crore under the PLI schemes for eight sectors till October in this fiscal, while during 2022-23 the disbursement was Rs 2,900 crore. The government in 2021 had announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 lakh crore.
“Incentive amount of around Rs 4,415 crore disbursed under PLI schemes for eight sectors including large-scale electronics manufacturing, IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom & networking products, food processing and drones and drone components,” additional secretary in the department for the promotion of industry and internal trade (DPIIT) Rajeev Singh Thakur told reporters here.
“As of date, 746 applications have been approved in 14 sectors with an expected investment of over Rs 3 lakh crore. Around 176 MSMEs are among the PLI beneficiaries in sectors such as bulk drugs, medical devices, pharma, telecom, white goods, food processing, textiles & drones. Several MSMEs are serving as investment partners/contract manufacturers for large corporates,” the ministry said in the statement.
