News Brief
Success Of PLI Schemes: Rs 95,000 Crore Invested In 14 Sectors, 20 Per Cent Increase In Mobile Manufacturing, 6.4 Lakh Jobs Created
Nishtha Anushree
Dec 26, 2023, 07:18 PM | Updated 07:18 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
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.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Nishtha Anushree is Senior Sub-editor at Swarajya. She tweets at @nishthaanushree.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.