Industry Hails PLI Disbursements

New Delhi: The industry on Monday applauded the government’s commitment to strengthening India’s manufacturing sector through the disbursement of Rs14,020 crore under the production-linked incentive (PLI) scheme across multiple sectors, driving sales of Rs14 lakh crore.

The Centre has disbursed incentives to the tune of Rs14,020 crore under its PLI schemes for promoting manufacturing in 10 sectors including large-scale electronics manufacturing, IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom products, food processing, white goods, automobiles and drones, according to figures compiled by the Ministry of Commerce and Industry.

The PLI schemes - being implemented keeping in view India’s vision of becoming ‘Atmanirbhar’ across 14 key sectors - has succeeded in attracting investment of an impressive Rs1.6 lakh crore.

“This initiative is a major step toward job creation, the expansion of India’s manufacturing ecosystem and exports, in electronics and semiconductors. Looking ahead, we anticipate accelerated growth in the Electronics System Design and Manufacturing (ESDM) sector, fostering innovation, supply chain resilience, and positioning India as a global hub for high-value electronics production,” said Ashok Chandak, President of the India Electronics and Semiconductor Association (IESA).

The current momentum, coupled with the upcoming Semicon India Programme V2.0 and the PLI scheme for electronic components, will drive a targeted strategy to achieve a $500 billion electronics market and meet the projected $103 billion semiconductor demand with significant value addition, he added.