The Production Linked Incentive, PLI, shemes have led to a significant increase in production, employment generation, economic growth and exports in the country. This was stated by Secretary of Department for Promotion of Industry and Internal Trade, DPIIT, Rajesh Kumar Singh while addressing a press conference in New Delhi on Tuesday. He said, due to PLI Schemes, there was a significant increase of 76 percent in Foreign Direct Investment, FDI, in the Manufacturing sector in financial year 2021-22 of worth 21.34 billion dollars compared to previous financial year which was 12.09 billion dollars.<br />'' <br />'' The PLI schemes, as envisioned by the Prime Minister Narendra Modi with the objective of making India 'AatmaNirbhar', is built on the foundation of 14 sectors with an incentive outlay of one lakh 97 thousand crore rupees to strengthen their production capabilities and help create global champions.<br />'' <br />''Sectors for which PLI schemes exist and have seen a significant increase in FDI inflows from financial year 2021-22 to financial year 2022-23 are Drugs and Pharmaceuticals Food Processing Industries and Medical Appliances. The Schemes have transformed India's exports basket from traditional commodities to high value- added products such as electronics and telecommunication goods and processed food products. Our Correspondent reports that as on date, 733 applications have been approved in 14 Sectors with expected investment of three lakh 65 thousand Crore rupees. 176 MSMEs are among the PLI beneficiaries in sectors such as Bulk Drugs, Medical Devices, Pharma, Telecom, White Goods, Food Processing, Textiles and Drones.
News On AIR | June 13, 2023 7:06 PM
PLI Schemes contribute to increase in production, employment generation, and economic growth