US$ 815.5 million (Rs. 6,800 crores) disbursed to beneficiaries of the PLI scheme in FY24: DPIIT Secretary

The Indian government's Performance Linked Incentive (PLI) scheme has seen significant disbursement totalling US$ 1.1 billion (Rs. 9,700 crores), with US$ 815.5 million (Rs. 6,800 crores) disbursed in the current fiscal year. While the focus remains on strengthening investment and sales, challenges persist in streamlining processes and addressing wrongful claims. Efforts are being made to simplify project management agency (PMA) procedures and encourage quarterly disbursements alongside sector-specific tweaks to enhance the scheme's effectiveness, particularly in textiles, bulk drugs, food products, and solar PV modules. Despite a cautious approach to rolling out new PLI schemes, the government aims to stabilize existing initiatives before considering further expansions.

The government aims to attract at least US$ 100 billion in total FDI inflows annually over the next five years, emphasizing macroeconomic stability, infrastructure investment, and regulatory reforms to enhance India's appeal as an investment destination. Additionally, the forthcoming e-commerce policy seeks to provide clarity for stakeholders, aligning with consumer protection laws. Initiatives such as the Open Network for Digital Commerce (ONDC) and support for startups through state-wise rankings and funding schemes remain integral to encouraging innovation and entrepreneurship in India.

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