Government allocates Rs 44.15 bn across 8 sectors via various PLI Schemes

The government had distributed Rs 44.15 billion under production-linked incentive (PLI) schemes for eight sectors until October in this fiscal year. According to Rajeev Singh Thakur, the Additional Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), the incentive amount of approximately Rs 44.15 billion had been disbursed under PLI Schemes for eight sectors, which included Large-Scale Electronics Manufacturing, IT Hardware, Bulk Drugs, Medical Devices, Pharmaceuticals, Telecom & Networking Products, Food Processing, and Drones and Drone Components. In 2021, the government had 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. The objective of these schemes is to attract investments in key sectors and cutting-edge technology, ensure efficiency, bring economies of size and scale to the manufacturing sector, and make Indian companies and manufacturers globally competitive.