Indian Economy News

Production Linked Incentive Schemes witness over US$ 12.4 billion (Rs. 1.03 lakh crore) of investment till November 2023

The Production Linked Incentive (PLI) Schemes have attracted investments exceeding US$ 12.4 billion (Rs. 1.03 lakh crore) as of November 2023, resulting in a noteworthy production/sales value of US$ 103.6 billion (Rs. 8.61 lakh crore) and the generation of over 6.78 lakhs in direct and indirect employment. Notably, exports under the PLI Schemes have crossed US$ 38.5 billion (Rs. 3.20 lakh crore), with significant contributions from sectors such as Large-Scale Electronics Manufacturing, Pharmaceuticals, Food Processing, Telecom, and networking products.

746 applications across 14 sectors have received approval, indicating an anticipated investment of over US$ 36.1 billion (Rs. 3 lakh crore). Among the beneficiaries of the PLI Schemes, 176 MSMEs operate in sectors including Bulk Drugs, Medical Devices, Pharma, Telecom, White Goods, Food Processing, Textiles, and Drones. Many MSMEs play vital roles as large corporations' investment partners or contract manufacturers.

Underlining the success of the PLI Schemes, an incentive amount totaling around US$ 531.1 million (Rs. 4,415 crore) has been disbursed for eight sectors, namely Large-Scale Electronics Manufacturing (LSEM), IT Hardware, Bulk Drugs, Medical Devices, Pharmaceuticals, Telecom & Networking Products, Food Processing, and Drones & Drone Components.

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