According to a senior official on Wednesday, the central government has distributed Rs2,874.71 crore to the PLI scheme’s recipients, the majority of which are businesses in the electronics, telecom, pharmaceutical, and food processing industries.
These eight industries are doing well, but a few need to pick up the pace, according to Rajeev Singh Thakur, additional secretary at the Department for Promotion of Industry and Internal Trade (DPIIT). To improve domestic manufacturing capacity and increase exports, a scheme with a budget of Rs1.97 lakh crore was announced for 14 sectors in 2020. According to him, the scheme has received incentive claims totaling more than Rs3,420.05 crore for eight industries: large-scale electronics manufacturing, electronics and technology products, bulk medications, medical devices, pharmaceuticals; Food items, drones, telecom and networking gear, and drones, for which over Rs 2,800 crore has already been paid out.
According to Singh, “the next two to three years will be crucial and we hope that things will move with a fast pace.” Up till December 2022, 717 proposals in 14 industries have their planned investments of Rs2.74 lakh crore approved. According to him, an actual investment of Rs 53,500 crore has been realised, leading to an increase in output and sales of more than Rs 5 lakh crore and the creation of more than 3 lakh jobs. The greatest amount of Rs 1,649 was paid out to the electronics industry. Pharma (Rs 652 crore), food items (Rs 486 crore), telecom (Rs 35 crore), drones (Rs 30 crore), medical devices (12.8 crore), and other products came in second and third, respectively. bulk pharmaceuticals (Rs. 4.34 crore) and gadgets (Rs.The production-linked incentive (PLI) system has also been expanded to encompass the following industries: textiles, white products, specialty steel, advanced chemical cells and auto components. When asked if there were any intentions to expand the scope of the programme, he responded that there have been requests from many businesses, but that no final decision had been made. “We anticipate that things will move at a healthy pace in the next 2-3 years,” he continued.
