Production-Linked Incentive (PLI) schemes brought in US$ 14.73 billion (Rs. 1,25,000 crore) investment: Prime Minister Mr. Narendra Modi
- IBEF
- December 11, 2024
India's Production-Linked Incentive (PLI) schemes have attracted investments exceeding US$ 14.73 billion (Rs. 1,25,000 crore), according to Prime Minister Mr. Narendra Modi. Speaking at the Rising Rajasthan Summit, he emphasised the importance of a robust manufacturing base for ensuring a resilient economy that thrives even during global crises. He highlighted the significant expansion of PLI’s role in boosting manufacturing across electronics, specialty steel, automobiles, auto components, solar, and pharmaceuticals. He also mentioned that India had manufactured products worth around US$ 129.64 billion (Rs. 11,00,000 crore), with exports increasing by US$ 47.14 billion (Rs. 4,00,000 crore) due to the PLI schemes.
Rajasthan’s potential for electric vehicle and electronics manufacturing was also discussed, with the pointing out the state's solid foundation in the automotive and auto components industries. He stated that the country had nearly doubled its economy in the past decade and credited its digital transformation to initiatives like the Unified Payments Interface (UPI), Direct Benefit Transfer (DBT) schemes, Government e-Marketplace (GeM), and Open Network for Digital Commerce (ONDC). Chief Minister of Rajasthan, Mr. Bhajan Lal Sharma, added that agreements for investments totalling US$ 412.49 billion (Rs. 35,00,000 crore) had been signed at the summit. He noted that the event, marking his first year in office, aimed to ensure timely actions to turn investment proposals into concrete projects, with participation from 32 countries.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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