Government disburses INR 4,415 crore under PLI schemes; Progress on the target path

News update

The Government of India has disbursed Rs 4,415 crore under its Production Linked Incentive (PLI) schemes to various firms till December 2023. This falls short of the fiscal year-end target of Rs 11,000 crore. The release includes incentives of Rs 1,515 crore distributed in the current fiscal, including Samsung Electronics’ mobile manufacturing charges, which were approved recently. Launched in April 2020, the PLI policy currently covers 14 schemes.

Rajeev Singh Thakur, Additional Secretary, Ministry of Industrial Promotion and Internal Trade, said, «Though the payouts are still low, we hope that investments are targeted and production is also on track.» He added that the departments are optimistic about achieving or approaching the payout target for the year.

Thakur also highlighted that 1,000 PLI-backed manufacturing units are operational or underway across the country. PLI’s investment this year stands at Rs 40,500 crore, taking the total to Rs 1.03 trillion. PLI’s incremental production and sales this year stands at Rs 1.86 trillion, with exports at Rs 66,000 crore. PLI companies created 1.53 million additional jobs this year, both direct and indirect.

Since the launch of the Rs 1.97 trillion programme, the total output of PLI companies has reached Rs 8.61 trillion and created more than 6,78,000 jobs. Exports under PLI programs have exceeded Rs 3.2 trillion. Sectors benefiting from PLI incentives include large-scale electronics manufacturing, bulk pharmaceuticals, IT hardware, medical devices, pharmaceuticals, telecommunications and networking products, food processing, and drones and drone components.

Thakur highlighted that the 5-year targets for investment and production under PLI have already been achieved in large-scale electronics manufacturing. The Government remains committed to achieving or approaching targets in other sectors and continues to monitor the need for adjustments in PLI programmes.

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