The Production Linked Incentive (PLI) Schemes have led to a significant increase in production, employment generation, economic growth and exports in the country. Rajesh Kumar Singh, Secretary, DPIIT, said that PLI Schemes have led to a significant increase of 76% in FDI in the manufacturing sector in FY 2021-22 (USD 21.34 billion), compared to the previous FY 2020-21 (USD 12.09 billion).
As per the Government, sectors for which PLI schemes exist and have seen an increase in FDI inflows from FY 2021-22 to FY 2022-23 are Drugs and Pharmaceuticals (+46%), Food Processing Industries (+26%) and Medical Appliances (+91%). To date, 733 applications have been approved in 14 Sectors with an expected investment of Rs.3.65 Lakh Crore. 176 MSMEs are among the PLI beneficiaries in sectors such as Bulk Drugs, Medical Devices, Pharma, Telecom, White Goods, Food Processing, and Textiles & Drones.
Actual investment of Rs. 62,500 Crore has been realised till March 2023, resulting in incremental production/ sales over Rs. 6.75 Lakh Crore and employment generation of around 3,25,000. Exports boosted by Rs 2.56 lakh crore till FY 2022-23.
Incentive amount of around Rs. 2,900 Crore disbursed in FY 2022-23 under PLI Schemes for 8 sectors – Large-Scale Electronics Manufacturing (LSEM), IT Hardware, Bulk Drugs, Medical Devices, Pharmaceuticals, Telecom & Networking Products, Food Processing and Drones & Drone Components.
Import substitution of 60% has been achieved in the Telecom sector and India has become almost self–reliant in Antennae, GPON (Gigabit Passive Optical Network) & CPE (Customer Premises Equipment). Drones sector has seen a 7 times jump in turnover due to the PLI Scheme which consists of all MSME Startups.
Under the PLI Scheme for Food Processing, the sourcing of raw materials from India has seen a significant increase which has positively impacted the income of Indian farmers and MSMEs.
