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PLI schemes realize ₹1.07tn investment, ₹8.70tn sales so far

The Production Linked Incentive (PLI) schemes for all 14 sectors have realised an actual investment of ₹1.07 lakh crore, resulting in production or sales worth ₹8.70 lakh crore, according to the commerce ministry.

Minister of state in the commerce ministry, Som Prakash, replying to a query in the Lok Sabha today, said in line with the ‘Atmanirbhar Bharat’ campaign, the PLI schemes for 14 key sectors have been announced with an outlay of ₹1.97 lakh crore (over US$26 billion) to enhance India’s manufacturing capabilities and exports.

The 14 sectors include mobile manufacturing and specified electronic components, critical key starting materials/drug intermediaries & active pharmaceutical ingredients, manufacturing of medical devices, automobiles and auto components, pharmaceuticals drugs, specialty steel, telecom & networking products, electronic/technology products, white goods (ACs and LEDs), food products, textile products: MMF segment and technical textiles, high-efficiency solar PV modules, advanced chemistry cell (ACC) battery, and drones and drone components.

The minister says these PLI schemes aim to attract investments in key sectors and cutting-edge technology. These have the potential of boosting production, exports, jobs, increase manufacturing activities and contribute to economic growth over the next five years, he says.

Under all PLI schemes so far, exports have exceeded ₹3.40 lakh crore, with substantial contributions from sectors such as electronics, pharmaceuticals and food processing. “Incentive amounts of around ₹4,415 crore have been disbursed under the PLI Scheme for 8 sectors,” says Prakash.

Rajeev Chandrasekhar, MoS for electronics and information technology, answering a query on the PLI scheme for smartphone, says the mobile phone production has increased 18.5 times from ₹18,900 crore in 2014-15 to ₹3,50,000 crore in 2022-23 (industry estimates). Further, the exports of mobile phone have grown 57.5 times from ₹1,566 crore in 2014-15 to ₹90,000 crore in 2022-23 (industry estimates).

The PLI scheme for Large Scale Electronics Manufacturing (LSEM) was notified on April 01, 2020, for 5 years. The minister says it is in the implementation phase and no extension or revision is planned at this stage as the performance is as per the projected outcomes.

Replying to another query on the PLI Scheme in telecom and networking products, MoS for communications, Devusinh Chauhan, says it catalysed the production of telecom equipment in the country, with a total of 33 telecom and networking products in production. The companies taking part in the scheme have committed investments worth ₹4,014 crore of which ₹2,963 crore has been invested till December 31, 2023.

The incremental sales commitment is ₹2,37,807 crore, of which ₹42,554 crore has been infused by December 31, 2023. Also, a total of 16,106 jobs have been given under the scheme of the commitment of 44,494. “Under telecom PLI scheme, products worth ₹9,712 crore have been exported as of December 31, 2023, and ₹34.97 crore has been disbursed under the PLI Telecom Scheme for FY 2021-22,” the minister says. Fortune India

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