746 PLI Applications Approved Till Nov Spread Over 150 Districts: DPIIT

New Delhi, Dec 26 (KNN) Department for Promotion of Industry and Internal Trade (DPIIT) has approved 746 PLI applications till November 2023 and has established PLI units in more than 150 districts across 24 states, the Commerce Ministry said on Tuesday. 

According to the ‘2023 Year End Review For DPIIT’ over Rs 95,000 crore of investment reported till September 2023, which has led to production/sales of Rs 7.80 lakh crore and employment generation (direct & indirect) of over 6.4 lakh. Export have been boosted by Rs 3.20 lakh crore.

Incentives worth around Rs 2,900 crore have been disbursed in FY 2022-23. There has been a value addition of 20 per cent in mobile manufacturing within a period of 3 years. Of the USD 101 billion total electronics production in FY 2022-23, smartphones constitute USD 44 billion, including USD 11.1 billion as exports, it said.

Import substitution of 60 per cent 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).

There has been a significant reduction in imports of raw materials in the Pharma sector. Unique intermediate materials and bulk drugs are being manufactured in India including Penicillin-G, and transfer of technology has happened in manufacturing of Medical Devices such as CT scan, MRI etc, as per the year-end review.

Drones sector has seen 7 times jump in turnover, which consists of all MSME and Startups. Under the PLI Scheme for Food Processing, sourcing of raw materials from India has seen significant increase which has positively impacted income of Indian farmers and MSMEs.

(KNN Bureau)