Businesses have committed about Rs.1,07,000 cr of investments under the government’s production-linked incentive (PLI) scheme to scale up domestic manufacturing, helping create job opportunities for over 700,000 people, finance minister Nirmala Sitharaman said.
Manufacturing locations (under the PLI scheme) are coming up in 24 states and more than 150 districts. The PLI scheme has led to Rs.3,40,000 cr of exports and Rs.8,70,000 cr of production and sales, and 176 small businesses have been selected as direct beneficiaries of the scheme.
PLI schemes across 14 key sectors were announced by the Centre in 2020 with an outlay of Rs.1,97,000 cr (over $26 bn) for a period of five years starting from 2021-22 to enhance manufacturing capabilities.
The purposes of the PLI scheme is to attract investments and cutting-edge technology across key sectors, ensure efficiency, and bring economies of size and scale in the manufacturing sector to make Indian companies globally competitive.
