Boosting India's Manufacturing: Government Disburses Rs 14,020 Crore in PLI Schemes

The Indian government has disbursed Rs 14,020 crore under Production-Linked Incentive schemes to enhance domestic manufacturing in 10 sectors since the initiative began. The scheme aims to attract investment, improve efficiency, and make Indian manufacturers globally competitive, with significant contributions from electronics and pharmaceuticals sectors.

The Indian government has disbursed Rs 14,020 crore in Production-Linked Incentive (PLI) schemes across ten sectors, an official statement revealed. This financial commitment is part of a broader strategy to enhance domestic manufacturing capabilities and boost global competitiveness.

The PLI scheme, announced in 2021, covers 14 sectors, including electronics, telecommunications, pharmaceuticals, and specialty steel, with a total outlay of Rs 1.97 lakh crore. Notably, 764 applications across sectors have been approved, with investments reaching Rs 1.61 lakh crore by November 2024.

The initiative has already resulted in production/sales of approximately Rs 14 lakh crore and created employment for over 11.5 lakh individuals. A significant export surge, surpassing Rs 5.31 lakh crore, has been observed, prominently in the electronics and pharmaceuticals industries.

(With inputs from agencies.)