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.