Govt approved 746 PLI applications till Nov

The Union government has approved as many as 746 applications under the production-linked incentive (PLI) scheme for 14 key sectors till November 2023.

The PLI scheme for 14 sectors was announced with an outlay of ₹1.97 lakh crore to enhance India's manufacturing capabilities and exports.

Beneficiary companies have set up units in more than 150 districts across 24 states and ₹95,000 crore worth of investments have been reported till September, the ministry of commerce and industry says.

The investments have led to production or sales of ₹7.80 lakh crore and employment generation - direct and indirect - of over 6.4 lakh, the ministry says.

"Incentives worth around ₹2,900 crores have been disbursed in FY 2022-23. There has been a value addition of 20% in mobile manufacturing within a period of 3 years," says the commerce ministry.

Of the $101 billion total electronics production in FY23, smartphones constitute $44 billion, including $11.1 billion as exports.

Exports have been boosted by ₹3.20 lakh crore, the ministry says.

"Import substitution of 60% has been achieved in the telecom sector and India has become almost self-reliant in Antennae, GPON (Gigabit Passive Optical Network) and CPE (Customer Premises Equipment)," it says.

There has been a significant reduction in imports of raw materials in the pharma sector. Unique intermediate materials and bulk drugs are being manufactured in India including Penicillin-G, and transfer of technology has happened in manufacturing of Medical Devices such as CT scan, MRI etc., the government says.

“The drone sector has seen a sevenfold jump in turnover, which consists of all MSME Startups. Under the PLI Scheme for Food Processing, sourcing of raw materials from India has seen significant increase which has positively impacted income of Indian farmers and MSMEs,” says the Centre.

On the Production Linked Incentive (PLI) scheme for White Goods (ACs and LED Lights) with a total outlay of ₹6,238 crore, 64 companies have been selected under the scheme, the government says.

Out of this, 34 would invest ₹5,429 crore for air conditioner components and 30 would invest ₹1,337 crore for LED component manufacturing.

“Further investments of ₹6,766 crore is envisaged creating additional direct employment of about 48 thousand persons. The net incremental production is expected to be more than ₹1.23 lakh crore during the scheme period. 13 Foreign Companies are investing ₹2,090 crore under the scheme. 23 MSME applicants have committed investment of ₹1,042 crore under the Scheme,” the government says.