Piyush Goyal Emphasizes Sectoral Strength and Export Growth via PLI Drive

In a strategic push toward self-reliance and global competitiveness, Union Minister of Commerce and Industry, Shri Piyush Goyal, reiterated India's need to focus on sectors where it enjoys a competitive advantage. Speaking at a review meeting on the Production Linked Incentive (PLI) Scheme, Shri Goyal emphasized that by resolving systemic challenges and addressing stakeholder concerns, India can unlock its full potential in manufacturing and export-led growth.

The meeting brought together representatives from all concerned Ministries, as part of a broader government initiative to ensure the effectiveness and long-term vision of the PLI framework—one of the flagship components of the Aatmanirbhar Bharat mission.

Investment Surge and Employment Generation Under PLI

The PLI Scheme, launched in phases across 14 critical sectors, has generated Rs. 1.76 lakh crore in investments, resulting in over Rs. 16.5 lakh crore in production/sales and the creation of more than 12 lakh jobs (direct and indirect) as of March 2025. Furthermore, a cumulative incentive of Rs. 21,534 crore has already been disbursed in 12 sectors, including:

• Large-Scale Electronics Manufacturing (LSEM)

• IT Hardware

• Pharmaceuticals and Bulk Drugs

• Medical Devices

• Telecom & Networking Products

• Food Processing

• White Goods

• Automobiles & Auto Components

• Specialty Steel

• Textiles

• Drones and Drone Components

This scale of deployment illustrates a robust ecosystem being built around domestic manufacturing, innovation, and supply chain resilience.

Pharma Sector: Export Powerhouse with Strong R&D Investment

The pharmaceutical sector continues to shine as a PLI success story. With cumulative sales amounting to Rs. 2.66 lakh crore, including Rs. 1.70 lakh crore in exports during the initial three years, India is reaffirming its position as a global pharmacy hub. Notably, the FY 2024-25 alone contributed ₹0.67 lakh crore in export sales—27% of India’s total pharma exports.

A striking feature is the focus on R&D, with Rs. 15,102 crore (40% of total investments) committed to innovation. This R&D boost has propelled the Domestic Value Addition to an impressive 83.70% as of March 2025—solidifying the sector's global credibility and reducing external dependencies.

Bulk Drugs: A Turnaround in India’s Pharmaceutical Sovereignty

Previously dependent on imports for key pharmaceutical components, India has become a net exporter of bulk drugs, shifting from a trade deficit of Rs. 1,930 crore in FY 2021-22 to a surplus of Rs. 2,280 crore in FY 2024-25.

The PLI for Bulk Drugs has enhanced domestic manufacturing of Key Starting Materials (KSMs), Drug Intermediates (DIs), and Active Pharmaceutical Ingredients (APIs). This shift is not only crucial for self-sufficiency but also enhances India’s ability to respond to future global health emergencies without relying on imports.

Food Processing: Rural Empowerment and MSME Growth

The PLI Scheme for Food Products has catalyzed significant growth, with Rs. 9,032 crore in investments yielding Rs. 3.80 lakh crore in production/sales and generating 3.4 lakh jobs.

One of the major highlights is the policy requirement to use domestically grown agricultural products, thereby uplifting rural economies and securing farmer incomes. The scheme has also had a transformative impact on MSMEs, with 70 enrolled directly and 40 more serving as contract manufacturers. This integration into the supply chain has:

• Stimulated market access and competitiveness

• Fostered product innovation

• Enabled greater inclusion in value-added export markets

Among the standout segments, the Value-Added Marine Products segment recorded a 22% CAGR, and the PLI Millet Scheme saw millet-based product sales grow 25x from FY 2021 to FY 2025. Millet procurement grew from 4,081 MT in FY 2022-23 to 16,130 MT in FY 2024-25, reflecting rising rural incomes and increased health-focused consumer demand.

Textile Sector: Export Gains in MMF and Technical Fabrics

The textile industry, specifically in Man-Made Fibres (MMF) and Technical Textiles, has seen remarkable export gains under PLI support:

• MMF Exports grew to US$ 6 billion in FY 2024-25, up from US$ 5.7 billion in the previous year.

• Technical Textile Exports rose from US$ 2.98 billion to US$ 3.36 billion in the same period.

This export surge aligns with India's strategy to move up the textile value chain, competing with global players in advanced fabric manufacturing, particularly for industrial, medical, and defense uses.

Pushing Forward: Focus on Quality, Skilling, and Infrastructure

Shri Goyal urged Ministries to look beyond targets and focus on quality-driven capacity building. He called for aligning skilling programs with industry needs, building a highly trained and future-ready workforce, and resolving infrastructure bottlenecks in partnership with the National Industrial Corridor Development Corporation (NICDC).

He advocated for a five-year investment and disbursement roadmap, ensuring that every sector maximizes its output potential and contributes to national economic goals.

Strategic Vision: Toward a Globally Competitive, Self-Reliant India

The PLI scheme represents more than just financial incentives—it is a blueprint for India’s long-term industrial and economic strategy. By nurturing high-performing sectors and reducing import dependencies, India is creating the foundation for sustainable, inclusive, and resilient growth.

The scheme’s impact across job creation, export growth, R&D investment, and rural development underscores its importance as a key driver of India's journey to becoming a global manufacturing hub.