PLI Schemes Clock Rs. 1.61 Lakh Crore In Investment, Generate 11.5 Lakh Jobs

The production-linked incentive (PLI) schemes have clocked Rs. 1.61 lakh crore in investment, Rs. 14 lakh crore in production and Rs. 5.31 lakh crore in exports while creating 11.5 lakh jobs, the union government has said in its latest update.

To date, 764 applications have been approved under PLI schemes for 14 key sectors and 176 MSMEs are among the beneficiaries in sectors such as bulk drugs, medical devices, pharma, telecom, white goods, food processing, textiles and drones, according to a Ministry of Commerce and Industry statement.

The PLI schemes have witnessed exports surpassing Rs. 5.31 lakh crore with significant contributions from sectors such as large-scale electronics manufacturing, pharmaceuticals, food processing, and telecom and networking products.

The schemes for 14 key sectors are under implementation to enhance India's manufacturing capabilities and exports. Incentive amount of around Rs. 14,020 crore was disbursed under PLI schemes for 10 sectors, informed the ministry.

In the PLI scheme for specialty steel, about Rs. 20,000 crore of investments have been made by companies -- out of Rs. 27,106 crore committed -- and these projects have given a direct employment of 9,000. The incentive of Rs. 48 crore has been released to the industry so far.