Government's PLI Schemes Propel Domestic Manufacturing Boom
The government has disbursed Rs 21,534 crore under Production-Linked Incentive schemes, boosting investments, production, and employment across 12 sectors. With cumulative sales and exports rising, especially in pharma and textiles, the scheme has strategically positioned India as a manufacturing hub, with further plans for expansion.
- Country:
- India
The Indian government has disbursed Rs 21,534 crore through Production-Linked Incentive (PLI) schemes aimed at supporting domestic manufacturing across various sectors. This initiative, which was first announced in 2021, targets sectors such as electronics, pharmaceuticals, and textiles, among others.
Minister of Commerce and Industry Piyush Goyal urged ministries to devise strategic plans for projecting investments and disbursements over the next five years. The ministry highlighted that the PLI schemes have attracted investments amounting to Rs 1.76 lakh crore, leading to production and sales exceeding Rs 16.5 lakh crore and creating over 12 lakh jobs.
The pharma sector has been particularly successful, with cumulative sales of Rs 2.66 lakh crore, including substantial exports. The schemes have also transformed India into a net exporter of bulk drugs, underlining the potential benefits of the incentive initiatives in future economic growth.
(With inputs from agencies.)
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