PLI Scheme Might Switch On The Afterburners In FY24

The distribution of incentives is anticipated to quadruple to roughly Rs 8,083 crore in FY24, the third year of the government's ambitious production-linked incentive (PLI) programme. The Department for Promotion of Industry and Internal Trade (DPIIT) said on Wednesday that the amount disbursed in FY23 was Rs 2,874 crore, or just 1.4% of the Rs 1.97 trillion programme that was started in FY21 to turn India into a manufacturing powerhouse. Pharmaceuticals, drug intermediaries, active pharmaceutical components, medical devices, large-scale electronics, including mobile devices, and food will each receive about 80% of the budget for FY24.