PLI Schemes Have Led To Investments of Over Rs 1.25 Trillion

10 Dec 2024 CW Team

Prime Minister Narendra Modi stated on Monday that India's Production Linked Incentive (PLI) schemes have attracted investments of over Rs 1.25 trillion. While speaking at the Rising Rajasthan Global Investment Summit 2024, he highlighted that the role of the PLI scheme in boosting manufacturing in India is growing.

PM Modi mentioned that there is considerable enthusiasm in sectors such as electronics, specialty steel, automobiles and auto components, solar, and pharmaceuticals. He further noted that investments of approximately Rs 1.25 trillion have been made due to the PLI scheme, with products worth around Rs 11 lakh crore being manufactured and exports increasing by Rs 4 trillion.

He also pointed out that Rajasthan has a strong foundation in the automotive and auto components industry and significant potential for electric vehicle manufacturing. He added that the state also possesses the necessary infrastructure for electronics manufacturing.

Rajasthan Chief Minister Bhajan Lal Sharma, who spoke before PM Modi, mentioned that agreements for investments worth Rs 35 trillion had been signed during the summit.

Regarding the ongoing reform initiatives in India, PM Modi emphasised that the country is following the mantra of "Reform-Perform-Transform." He stated that in the past 10 years, India has nearly doubled the size of its economy. He also mentioned that India's exports and Foreign Direct Investment (FDI) have more than doubled compared to the decade before 2014. Additionally, he noted that India's infrastructure expenditure has increased from about Rs 2 trillion to Rs 11 trillion during this period.

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