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The government has disbursed Rs 1,596 crore under Production-Linked Incentive (PLI) schemes for six sectors, including electronics and pharma, during the April-September this fiscal, an official said.
The government in 2021 announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 trillion.
Out of the total Rs 1,596 crore, the maximum amount of Rs 964 crore was disbursed under the PLI scheme for large-scale electronics manufacturing.
It was followed by pharma (Rs 604 crore), food products (Rs 11 crore), telecom (Rs 9 crore), bulk drugs (Rs 6 crore) and drones (Rs 2 crore).
Incentives disbursed till 2023-24 stood at Rs 9,721 crore, the official said adding the scheme is having a cascading effect on the country's MSME ecosystem.
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The anchor units that will be built in every sector will require a new supplier base in the entire value chain. Most of these ancillary units will be built in the MSME sector.
Further as of August 2024, across 14 sectors, investment of Rs 1.46 trillion have been realised, which has resulted in incremental production/sales of over Rs 12.50 trillion, employment generation of over 9.5 lakhs, and exports surpassing Rs 4 trillion. Over 760 applications have been approved under PLI schemes.
The departments implementing their respective schemes are responsible for the disbursals.
The schemes aim is to attract investments in key sectors and cutting-edge technology; ensure efficiency, bring economies of size and scale in the manufacturing sector and make Indian companies and manufacturers globally competitive.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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