Govt: 14,000 cr disbursed through PLI schemes in 10 sectors since 2021

NEW DELHI: Govt has disbursed around Rs 14,020 crore under its production-linked incentive (PLI) schemes for 10 sectors which include large-scale electronics manufacturing , IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom and networking products, food processing, white goods, automobiles and auto components, as well as drones and drone components, an official statement said on Saturday.

The PLI scheme, covering 14 sectors, was launched in 2021 to boost the country's manufacturing capabilities and exports. "The impact of PLI schemes has been significant across various sectors in India. They have incentivised domestic manufacturing, leading to increased production, job creation, and boost in exports. They have also attracted significant investments from both domestic and foreign players," said the commerce and industry ministry in a statement.

It said that as on date, 764 applications have been approved under the scheme for 14 key sectors and 176 MSMEs are among the beneficiaries in sectors such as bulk drugs, medical devices, pharma, telecom, white goods, food processing, textiles and drones.

Actual investment of around Rs 1.6 lakh crore ($18.7 billion) has been reported till Nov 2024 which has generated production/sales of around Rs 14 lakh crore (around $ 162.8 billion) against targets of Rs 15.5 lakh crore up to FY 2024-25. The scheme has helped create indirect and direct employment of over 11.5 lakh people, the ministry said.

It said that in the PLI scheme for specialty steel, about Rs 20,000 crore of investments have been made by companies out of Rs 27,106 crore committed, and these projects have given direct employment to 9,000 individuals.