New Delhi, September 29 (IANS). Union Commerce Minister Piyush Goyal said on Sunday that the Production Linked Incentive (PLI) scheme has been a great success in terms of attracting investment and increasing exports. Actual investment next year is likely to reach Rs 2 lakh crore and create 12 lakh jobs.
Interacting with Chief Executive Officers (CEOs) of over 140 PLI beneficiary companies in the national capital, Piyush Goyal lauded them for bringing innovation, making India self-reliant in critical sectors and generating employment.
During this, it was told that under the PLI scheme, actual investment of Rs 1.46 lakh crore has been received till August and it is likely to reach Rs 2 lakh crore in the next one year. This has resulted in production/sales of Rs 12.50 lakh crore and employment generation of about 9.5 lakh (direct and indirect), which is expected to reach 12 lakh soon.
It was informed during the dialogue that exports have crossed Rs 4 lakh crore, with substantial contribution from key sectors like electronics, pharmaceuticals and food processing.
“PLI is one of the most successful programs launched by Prime Minister Narendra Modi under the ‘Make in India’ initiative,” the minister told the media. He urged the industry to focus on giving priority to the production of high quality goods to promote ‘Brand India’ through sustainable practices.
The Minister also expressed his gratitude to the global champions for their dedication, significant investment in production of innovative products and contribution in employment generation through PLI schemes. He urged the CEOs to focus on increasing domestic value addition in their products to make India self-reliant.
In the electronics sector, mobile phone manufacturing now accounts for half of India’s total output. There has been a three-fold increase in exports since the financial year 2020-21. The pharmaceutical industry has revived domestic production of bulk drugs and complex generics, reducing dependence on imports. In the automobile sector, global champions have introduced electric vehicles in the country with substantial investment. The medical device industry has witnessed technology transfer for critical equipment such as CT scanners, which has boosted local production.
Adesh Vashishtha, CEO of Sirotech Networks, told IANS that Minister Goyal shared many positive insights and talked about new schemes, the government’s approach and “how we can grow our business more effectively”.
“We are also encouraged to know that the government is supporting us,” he said.
Sahan Singh Solanki, senior general manager, Meril Life Sciences Pvt Ltd, told IANS that PLI is a very positive step taken by PM Modi, because now we are making products which were not available in India earlier.
“The PLI scheme is both effective and affordable. It is beneficial for the country as well as the industry.”
According to Dr. Rajeev Chhibber, Vice President, Sahajanand Medical Technologies, what he found most remarkable was that there was a discussion about completely eliminating our dependence on imports, as mentioned by Minister Goyal.
Chhibber said the Union Minister also stressed that the quality of medical devices and any product in the 14 or 15 sectors covered under the PLI scheme should be maintained. He promised full cooperation to the industry in this regard.
Gujarat Co-operative Milk Marketing Federation (Amul) managing director Jayen Mehta said they had initially planned to invest around Rs 800 crore and so far over Rs 1,100 crore has been invested.
“With this investment, we are achieving a turnover of around Rs 15,000 crore in a year and are now looking at the global market,” Mehta told IANS.
–IANS
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