Government disburses Rs 14,020 crore under PLI schemes for ten sectors so far
The commerce and industry ministry has said that the government has disbursed Rs 14,020 crore under Production-Linked Incentive (PLI) schemes for ten sectors, including electronics and pharma, since the launch of the support measure to boost domestic manufacturing. In 2021, the government announced PLI schemes for 14 sectors like telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell batteries, drones, and pharma, with an outlay of Rs 1.97 lakh crore.
The ministry said these sectors are large-scale electronics manufacturing, IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom and networking products, food processing, white goods, automobiles and auto components and drones. Individual cases have been approved over a period of time through a transparent mechanism. It said projects are implemented over a period of time ranging from two-three years, depending on the nature of manufacturing, and claims are usually made after 1st year of production. Hence, it noted that most of the projects are at the implementation stage and will be filing incentive claims in due course.
It further said that as of date, 764 applications have been approved under the schemes for 14 sectors. 176 MSMEs are among the PLI beneficiaries in sectors such as bulk drugs, medical devices, pharma, telecom, white goods, food processing, textiles and drones. Actual investment of around Rs 1.61 lakh crore ($18.72 billion) has been reported till November 2024, which has generated production/sales of about Rs 14 lakh crore ($162.84 billion) and employment of over 11.5 lakh. The schemes have witnessed exports surpassing Rs 5.31 lakh crore (around $61.76 billion), with significant contributions from sectors like electronics and pharmaceuticals. In the scheme for specialty steel, it said, about Rs 20,000 crore of investments have been made by companies out of Rs 27,106 crore committed and these projects have given a direct employment to 9,000 people. Incentive of Rs 48 crore has been released to the industry so far.
