Indian Economy News

Production Linked Incentive Scheme with US$ 21 billion Outlay Drives Strong Industry Participation Across 14 Strategic Sectors

The Production Linked Incentive (PLI) Scheme, with a total outlay of Rs. 1.91 lakh crore (US$ 21 billion), has seen robust industry participation in 14 strategic sectors, further solidifying India’s manufacturing capabilities and global competitiveness. The PLI Scheme is designed to encourage domestic manufacturing, attract investment, and make the country less dependent on imports by supporting the country’s major sectors, such as electronics, pharmaceuticals, automobiles, and renewable energy. The scheme has resulted in enhanced capacity addition, technology adoption, and integration into the global value chain, making India a preferred destination for manufacturing. The government stated that the PLI Scheme is playing a critical role in promoting industrial growth and providing massive employment opportunities.
The PLI Scheme has also played a role in improving exports and innovation by encouraging firms to increase their production and adopt new technologies. The fact that both local and foreign companies are taking part in the scheme indicates that there is growing confidence in India’s policy framework and business environment. The scheme fits well with the overall vision of ‘Make in India’ and ‘Atmanirbhar Bharat’ by improving the manufacturing ecosystem and strengthening domestic supply chains. With continued policy support and active industry participation, the PLI Scheme will help to further accelerate industrial development, attract investments, create employment opportunities, and achieve its vision of becoming a global manufacturing hub.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.