PLI scheme brought in Rs 450 billion and produced 3 lakh jobs

09 Feb 2023 CW Team

According to Parameswaran Iyer, CEO, NITI Aayog, India's production-linked incentive (PLI) programme has attracted investment totaling more than Rs 450 billion and produced three lakh employment.

Results from the PLI initiative are already becoming visible. Incentives of to Rs 800 core have already been given. Before March, we anticipate (incentives) to reach close to Rs 3,000 crore to Rs 40 billion "Iyer said to PTI. "The plan is successful. Three lakh jobs have been generated, investments of over Rs 45,000 crore have already been made, and output worth Rs 2 trillion has already begun.

The programme, which aims to make domestic manufacturing competitive on a global scale, was launched with an investment of about Rs 2 trillion for as many as 14 industries, including white goods, pharmaceuticals, textiles, food products, high efficiency solar PV modules, specialty steel, and the automotive and auto component industries.

The PLI programme was introduced by the Indian government in 2020. On the additional sale of items made in India over predetermined base-year sales, it provides a monetary incentive for three to five years. In addition, a minimum investment in India is expected of the chosen beneficiaries.

To unlock value in infrastructure assets across industries, Sitharaman announced the Rs 6 trillion NMP over four years in August 2021.

The report on the NMP was created by NITI Aayog in conjunction with infrastructure line ministries.

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