Govt gives incentives of 14k cr in 10 PLI schemes

NEW DELHI: Govt has disbursed incentives totalling around Rs 14,020 crore under 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 & auto components, and drones & drone components, an official statement said on Saturday.
PLI schemes, launched in 2021, cover 14 sectors to boost the country's manufacturing capabilities and exports.
"The impact of PLI schemes has been significant across various sectors in India. These schemes have incentivised domestic manufacturing, leading to increased production, job creation, and a boost in exports. They have also attracted significant investments from both domestic and foreign players," said a statement from commerce and industry ministry.
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.
An 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 the target 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, the ministry said.