₹4,415 Crore Incentives Disbursed Across 8 Sectors Under PLI Scheme

The Production Linked Incentive (PLI) scheme has witnessed a substantial disbursement of incentives, totaling approximately ₹4,415 crore, across eight key sectors, according to data shared by the Department for Promotion of Industry and Internal Trade (DPIIT). This announcement was made by Rajeev Singh Thakur, the Additional Secretary of DPIIT, during a recent press briefing.

The sectors that have received disbursements under the PLI scheme encompass large-scale electronic manufacturing, IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom and networking products, food processing, and drones along with drone components.

As of October in the fiscal year 2024, disbursements reached ₹1,515 crore, building on the ₹2,900 crore disbursed in the previous fiscal year 2022-23 when the scheme payments commenced.

Looking ahead, Thakur stated that the next fiscal year will witness disbursements in at least four of the six remaining sectors covered by the PLI scheme. The sectors awaiting disbursements include white goods, specialty steel, textiles, high-efficiency solar PV modules, chemistry cell batteries, and electronic/technology products.

Despite minor adjustments in processes for certain sectors, Thakur emphasized that no major changes are anticipated in the schemes.

The DPIIT highlighted that investments exceeding ₹1.03 lakh crore were made in the PLI schemes till November 2023, resulting in production/sales amounting to ₹8.61 lakh crore and the generation of over 6.78 lakh jobs (direct and indirect).

The PLI schemes have significantly boosted exports, surpassing ₹3.20 lakh crore, with noteworthy contributions from sectors such as large-scale electronics manufacturing, pharmaceuticals, food processing, and telecom & networking products.

The government has approved 746 applications across 14 sectors under the PLI scheme, with an expected investment of over ₹3 lakh crore. Notably, 176 MSMEs are among the PLI beneficiaries in sectors like bulk drugs, medical devices, pharma, telecom, white goods, food processing, textiles, and drones.

Launched with an outlay of ₹1.97 lakh crore, the PLI scheme aims to bolster India's manufacturing capabilities, enhance exports, and position the country as an integral part of the global value chain. The scheme is proving effective in making Indian manufacturers globally competitive, attracting investments in core competencies and cutting-edge technology, ensuring efficiencies, creating economies of scale, and fostering export growth, according to the DPIIT statement.

HBL