New Delhi, 26 June (IANS). Union Commerce and Industry Minister Piyush Goyal said that the PLI scheme is in various stages of implementation in 14 major areas. He informed that an investment of Rs 1.76 lakh crore has been made in this scheme, which has created more than Rs 16.5 lakh crore production/sales and more than 12 lakhs (direct and indirect) employment by March 2025.
Union Minister Goyal said that India should focus on areas that have a competitive edge compared to other countries and should solve the problems faced by various stakeholders so that the country’s exports can increase.
The Union Minister expressed this idea during the review meeting of the incentive scheme related to production. He said that this scheme is one of the best initiatives towards making India ‘self -reliant’ in the manufacturing sector.
According to the Ministry of Commerce and Industry, Large-Skel Electronics Manufacturing (LSEM), IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom and networking products, food processing, White Goods, Automobile and Auto Components, Automobile and Auto Components, Special Clothes and Drone, Textiles, Clothes and Drone, Clothes and Drone in 12 areas under PLI schemes. A cumulative incentive amount of Rs 21,534 crore has been distributed for components.
Union Minister Goyal stressed the need to become self -sufficient in major areas under PLI scheme. He said that instead of focusing on quantity, ministries should focus on creating quality skilled manpower and should remove the obstacles of infrastructure in association with NICDC.
According to the ministry, the impact of PLI schemes in various fields in India has been important. These schemes have encouraged domestic manufacturing, which has increased production, generated employment and boosted exports.
Export sales of eligible products under the scheme in pharmaceuticals drugs for FY 2024-25 were Rs 0.67 lakh crore, which is about 27 percent of the country’s total pharma exports during the same period.
The PLI scheme for food products has given an investment information of Rs 9,032 crore, resulting in production/sales of Rs 3,80,350 crore and 3,40,116 (direct and indirect) employment.
Under the scheme, the export of Indian man-made fiber (MMF) textiles has reached US $ 6 billion during FY 2024-25, compared to US $ 5.7 billion during the financial year 2023-24.
-IANS
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