The Government’s Production Linked Incentive (PLI) schemes have witnessed over Rs 1.03 lakh crore of investment till November 2023, which has led to production/sales of Rs 8.61 lakh crore and employment generation (direct and indirect) of over 6.78 lakh.
The schemes have witnessed exports surpassing Rs 3.20 lakh crore, with significant contributions from sectors such as large-scale electronics manufacturing,pharmaceuticals, food processing, and telecom and networking products, the Commerce Ministry said on Wednesday.
As on date, 746 applications have been approved in 14 sectors with expected investment of over Rs 3 lakh crore with 176 MSMEs among the PLI beneficiaries in sectors such as bulk drugs, medical devices, pharma, telecom, white goods, food processing, textiles and drones. Several MSMEs are serving as investment partners/ contract manufacturers for large corporates. An Incentive amount of around Rs 4,415 crore has been disbursed under PLI schemes for eight sectors — large-scale electronics manufacturing, IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom and networking products, food processing and drones and drone components.
Manufacturing of various electronic components like battery, chargers, PCBA, PCB, camera modules, passive components and certain mechanics have been localised in the country. Under the PLI scheme for food processing, sourcing of raw materials from India has seen significant increase which has positively impacted income of Indian farmers and MSMEs. Sales of organic products increased and Indian brand visibility enhanced in the international market through branding and marketing abroad. The scheme has also led to increased Millet procurement – from 668 MT (FY 20-21) to 3,703 MT (FY 22-23).
Keeping in view India’s vision of becoming ‘Atmanirbhar’, PLI schemes for 14 key sectors with an incentive outlay of Rs 1.97 lakh crore (over USD 26 billion are under implementation to enhance India’s manufacturing capabilities and exports.