India's PLI Success: Rs 1.46 Lakh Crore Investments, Rs 12.5 Lakh Crore Sales, And 9.5 Lakh Jobs Generated Under Centre's Incentive Schemes

The government on Tuesday (17 December) announced that investments worth Rs 1.46 lakh crore have been realised under the Production Linked Incentive (PLI) schemes, leading to incremental production and sales exceeding Rs 12.50 lakh crore across 14 sectors as of August this year.

In a written response to the Lok Sabha, Commerce and Industry Minister Piyush Goyal emphasised that the PLI schemes, with a financial outlay of Rs 1.97 lakh crore, are aligned with India's vision of achieving self-reliance.

These schemes aim to boost domestic manufacturing capabilities and exports in 14 strategically important sectors.

"As on August 2024, across 14 sectors, investment of Rs 1.46 lakh crore have been realised, which has resulted in incremental production/sales of over Rs 12.50 lakh crore, employment generation of over 9.5 lakhs, and exports surpassing Rs 4 lakh crore," Goyal stated.

The minister further highlighted that incentives amounting to Rs 2,968 crore in eight sectors during 2022-23 and Rs 6,753 crore in nine sectors during 2023-24 have been disbursed.

To date, 764 applications across the 14 PLI sectors have received approval under the scheme.

In a separate reply, Goyal pointed out that India’s trade with Free Trade Agreement (FTA) partner countries has shown significant growth.

He stated that exports to FTA partners have increased by 100 per cent since the implementation of FTAs, compared to an 84.7 per cent rise in imports over the same period, up to 2023-24.

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