New Delhi, March 24 (IANS). The government has distributed Rs 14,020 crore under the Production-Linked Incentive (PLI) scheme in many areas. The industry appreciated this and described the important step towards strengthening India’s manufacturing sector.
According to the latest data released by the Ministry of Commerce and Industry, the Center has largely provided a large -scale electronics manufacturing, IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom products, food processing, White Goods, Automobiles and Drone to promote manufacture of Rs. 14,020 crore under their PLI schemes to promote manufacture Have distributed.
PLI schemes are being implemented keeping in mind India’s attitude to become ‘self -sufficient’ in 14 major areas and these schemes have been successful in attracting investment of Rs 1.6 lakh crore.
“This initiative is a major step towards generating employment, expansion of India’s manufacturing ecosystem and exports to electronics and semiconductor,” said Ashok Chandak, president of the India Electronics and Semiconductor Association (IESA).
Given the future, we expect to promote the development and innovation in the electronics system design and manufacturing (ESDM) sector, flexibility in supply chains and installing India as a global hub for high -value electronics production. “
He said that the current speed will carry forward a target strategy to achieve $ 500 billion electronics market for the upcoming Semcon India program V22 and PLI scheme for electronic components. Also, with the Value Edition, $ 103 billion will work rapidly to meet the demand.
These schemes have encouraged domestic manufacturing, which has increased production, employment generation and exports.
The schemes have also attracted investment from both domestic and foreign players.
To date, 764 applications have been approved under PLI schemes for 14 major areas.
According to the official statement, 176 MSME PLI beneficiaries are included in sectors such as bulk drugs, medical devices, pharma, telecom, white goods, food processing, textiles and drones.
An investment of about Rs 1.61 lakh crore has been recorded by November 2024, producing about Rs 14 lakh crore (about 162.84 billion) as against the target of 15.52 lakh crore by FY 2024-25. Also directly and indirectly, more than 11.5 lakh people have got employment.
PLI schemes have changed India’s export basket from traditional goods to high-value added products such as electronics and telecom goods, food processing etc.
PLI schemes have seen more than Rs 5.31 lakh crore (about $ 61.76 billion), which contributes on large -scale electronics manufacturing, pharmaceuticals, food processing and telecommunications and networking products.
-IANS
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