755 applications approved across 14 sectors, investment of Rs. 1.23 lakh crore attracted under PLI Scheme till March 2024
NEW DELHI : Keeping in view India’s vision of becoming ‘Atmanirbhar‘, Production Linked Incentive (PLI) Schemes for 14 key sectors have been announced with an outlay of Rs. 1.97 lakh crore (over US$26 billion) to enhance India’s Manufacturing capabilities and Exports.
The 14 sectors are: (i) Mobile Manufacturing and Specified Electronic Components, (ii) Critical Key Starting Materials/Drug Intermediaries & Active Pharmaceutical Ingredients, (iii) Manufacturing of Medical Devices (iv) Automobiles and Auto Components, (v) Pharmaceuticals Drugs, (vi) Specialty Steel,(vii)Telecom&NetworkingProducts,(viii)Electronic/TechnologyProducts,(ix) White Goods (ACs and LEDs), (x) Food Products, (xi) Textile Products: MMF segment and technical textiles, (xii) High efficiency solar PV modules, (xiii) Advanced Chemistry Cell (ACC) Battery, and (xiv) Drones and Drone Components.
The purpose of the PLI Schemes is to attract investments in key sectors and cutting-edge technology; ensure efficiency and bring economies of size and scale in the manufacturing sector and make Indian companies and manufacturers globally competitive. These schemes have the potential of significantly boosting production, increase manufacturing activities and contribute to economic growth over the next five years or so. As on date, 755 applications have been approved across14sectors.Investment of Rs. 1.23 lakh crore have been realized till March 2024 resulting in employment generation of around 8 lakhs.
The criteria employed in the selection of beneficiaries under PLI Schemes includes but not limited to willingness to making required investment, production of approved product categories under respective Scheme, eligible net worth, domestic value addition, etc. as mentioned in Scheme Guidelines issued by the implementing Ministries/ Departments.
PLI Scheme for Automobile and Auto Components (PLI-Auto) and; PLI Scheme on National Programme on Advanced Chemistry Cell (PLI-ACC) Battery storage are being implemented by the Ministry of Heavy Industries. Under both Schemes, expenditure incurred by the beneficiary firms on Research and Development is considered as an eligible Investment, to enable them to adopt latest technology in implementation of their projects.
This information has been provided by the Union Minister of State for Commerce and Industry, Shri Jitin Prasada in a written reply in the Lok Sabha.