The Incentive Based Production (PLI) scheme of the government seems to be paying off. In this, investment proposals of Rs 2.34 lakh crore have come from 14 sectors, which is more than expected. This is expected to create about 64 lakh jobs in the next five years. This has been said in a report released on the basis of data of various ministries. Companies from many sectors including food processing and textiles to vehicles and electronics are participating in the PLI.
Initially, the companies were not that enthusiastic about it, but after the transparent and easing of the policy and process by the government, the industry is participating in it more enthusiastically about the PLI scheme. Experts say that the PLI has just begun and if all goes well, the positive impact it will have on employment and the industry is difficult to predict.
Most investments in these sectors
Vehicles, vehicle equipment, advanced chemical batteries, special steel and solar panels have been at the forefront of attracting investments under the PLI scheme. In the report released in this regard, it has been told that the government is expected to generate a business of Rs 28.15 lakh crore through this. Apart from this, with the increase in investment and employment under the PLI scheme, it can also prove to be helpful in increasing the economic speed of the country.
In which sector will the investment be made?
sector investment amount
(Investment amount in Rs.)
What is PLI Scheme
The five-year PLI scheme was launched by the government with the aim of promoting domestic manufacturing and cutting down on the import bill. 14 sectors were selected for the PLI scheme in the country. These include sectors such as IT hardware including automobiles, textiles, food production. Under this scheme, it was proposed to spend Rs 1.97 lakh crore.
Domestic companies will get a new identity
The impact of the PLI scheme will be seen differently in different regions. Acer India’s Chief Business Officer Sudhir Goyal says that PLI in the laptop and PC space can prove to be a dice-turner for domestic companies. He says that Dixon Technology of Noida has tied up to make products for Acer.
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Dixon is participating in the PLI. Goyal says that if Dixon gets orders from other companies as well, it will be able to make world class affordable products. Experts say that at present, Foxconn of Taiwan makes mobiles for the world’s famous companies. Indian companies like Dixon also have the ability to achieve that success in the field of laptop-PC.