NEW DELHI: Fourteen sectors, which are beneficiaries of the Production Linked Incentive (PLI) schemes, received a total investment of Rs 53,500 crore till December 2022, resulting in incremental production or sales of over Rs 5 lakh crore.
According to the data released by the Department of Promotion of Industry and Internal Trade (DPIIT), the government has disbursed Rs 2,800 crore to eight sectors against Rs 3,400 crore claims raised under the scheme. These eight sectors include large-scale electronics manufacturing, IT hardware, pharmaceuticals, telecom, food products among others.
According to DPIIT additional secretary Rajeev Singh Thakur, these eight PLI sectors are doing well, while some of them need to enhance their pace. The PLI scheme was announced in 2020 for 14 sectors with a total outlay of Rs 1.97 lakh crore to increase domestic manufacturing capabilities and give impetus to exports.
“The next two-three years will be crucial and we hope that things will move at a faster pace,” Singh said while briefing the media. As per the government data, 717 applications have been approved in 14 sectors with expected investment of Rs 2.74 lakh crore. This has resulted in generation of more than 3 lakh jobs. Large scale electronics manufacturing has attracted Rs 5,100 crore investment so far due to the PLI scheme, leading to total production worth Rs 2.4 lakh crore and generation of over 52,000 jobs. The ministry disbursed Rs 1,649 crore to the sector against the actual claims of Rs 1,651.45 crore.
Nearly 19,000 crore investments have been made under the PLI schemes in areas like bulk drugs, medical devices and pharmaceuticals. An investment of about Rs 6,000 crore has been made under the scheme for the food processing sector resulting in the creation of 1.24 lakh jobs. The government said that the PLI scheme has attracted leading global manufacturers, even as leading domestic companies & MSMEs have actively participated in these schemes.
PLI performance so far
717 Applications approved under 14 schemes
Rs 53,500 cr: Actual investment (till Dec’22)
3 lakhs: Employment generated
5 lakh cr: Actual incremental production/sales
3,400 cr: Incentive across 8 sectors
176 MSMEs: Selected as direct beneficiaries