Delhi, 22 March (H.S.): India's ambition of becoming 'Atmanirbhar' has fostered the implementation of Production Linked Incentive (PLI) Schemes across 14 crucial sectors, boosting manufacturing capacity and exports. These schemes have stimulated domestic production, created jobs, and attracted significant investments, approving 764 applications, including 176 from MSMEs in sectors like Bulk Drugs, Telecom, and Textiles. By November 2024, actual investments totaled ₹1.61 lakh crore (US$ 18.72 billion), yielding about ₹14 lakh crore (US$ 162.84 billion) in production and creating over 11.5 lakh jobs.
A shift in export focus from traditional commodities to value-added products has led to exports worth ₹5.31 lakh crore (US$ 61.76 billion). Approximately ₹14,020 crore has been allocated as incentives across ten sectors. Various projects are at different implementation stages, with claims typically made after the first year's production. In specialty steel, about ₹20,000 crore in investments has generated 9,000 jobs, with anticipated incentives of ₹2,000 crore.
The food processing sector has set claims deadlines for various categories, while ₹474 crore has been distributed for FY 2022-23, with a target of ₹700 crore for FY 2023-24.
India's manufacturing landscape is evolving, particularly notable in sectors such as drones, telecom, electronics, and pharmaceuticals, with PLI initiatives expected to significantly enhance production and economic growth over the next five years.
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Hindusthan Samachar / Jun Sarkar
