NEW DELHI: A total of Rs 1.07 lakh crore investments have been made under the government’s production-linked incentive (PLI) scheme till December 2023, the department of promotion of industry and internal trade (DPIIT) said on Sunday.
This has resulted in production/sales worth Rs 8.70 lakh crore and direct and indirect employment generation of about 7 lakh, it said.
In a statement issued by DPIIT, which falls under the Ministry of Commerce and Industries, said exports of goods produced under PLI have exceeded Rs 3.40 lakh crore, with substantial contribution from key sectors such as electronics, pharmaceuticals & food processing. Incentive amount of about Rs 4,415 crore disbursed under PLI scheme for 8 sectors.
Recently, in the Union Budget, the government has increased the allocation for PLI to Rs 6,200 crore in FY25 from Rs 4,645 crore in the current financial year. While delivering a keynote address at the ‘PLI Perspectives: A Stakeholder Meeting’ on Saturday, Minister of Commerce & Industry Piyush Goyal urged the industry champions to intensify their focus on enhancing competitiveness within their respective sectors, fostering a business environment that stimulates innovation, efficiency, and adaptability.
He also emphasised on the importance of the industry’s concentration on prioritizing production of high-quality goods which is aligned with the broader objective of the PLI Scheme, ensuring that the benefits extend to both businesses and consumers.