The Production-Linked Incentive (PLI) schemes for 14 sectors, including electronics, telecommunication, pharma, white goods, and textiles, have drawn over Rs 95,000 crore in investments until September this year, according to an official statement released on Tuesday (26 December).
The Commerce and Industry Ministry revealed that 746 applications have been approved under these schemes until November 2023, following the government's allocation of Rs 1.97 lakh crore for the schemes in the Union Budget 2021-22, Economic Times reported.
The schemes aim to boost India's manufacturing capabilities and exports, with PLI units established across more than 150 districts in 24 states. The ministry also reported that the schemes have generated direct and indirect employment for over 6.4 lakh individuals and led to production/sales of Rs 7.80 lakh crore.
Incentives worth around Rs 2,900 crore have been disbursed in 2022-23. The statement also highlighted a 20 per cent increase in mobile manufacturing within three years and significant import substitution in the telecom and pharma sectors.
In the white goods sector, 64 companies have been selected under the scheme, with 34 investing Rs 5,429 crore in air conditioner components and 30 investing Rs 1,337 crore in LED component manufacturing.
Additionally, the scheme is expected to attract further investments of Rs 6,766 crore, creating an additional 48,000 jobs, with 13 foreign companies investing Rs 2,090 crore.
Nishtha Anushree is Senior Sub-editor at Swarajya. She tweets at @nishthaanushree.
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