PLI Scheme Success: Expanding Manufacturing and Exports

The Indian government is not planning to expand sectors under the Production Linked Incentive (PLI) scheme. With a significant investment, PLI is boosting India's manufacturing and exports in electronics, pharmaceuticals, and textiles. Mobile phones exports have doubled since PLI's inception. The gems and jewellery sector faces challenges due to reduced demand.

The government has confirmed on Tuesday that there are currently no plans to expand the range of sectors included in the Production Linked Incentive (PLI) scheme.

Minister of State for Commerce and Industry Jitin Prasada emphasized that the strategically selected sectors align with national objectives, boost production capacity, enhance global competitiveness, and promote exports in essential areas like electronics, pharmaceuticals, and textiles.

To date, ₹1.46 lakh crore has been invested across 14 sectors, generating over ₹12.50 lakh crore in production and 9.5 lakh jobs. Despite challenges in gems and jewellery due to market demand and supply issues, the sector aims to explore new markets to maintain India's strong standing.

(With inputs from agencies.)