Over Rs 1.03 Lakh Crore Investments Attracted By PLI Schemes

ENA MSME 2024-01-18 15:47:12 New Delhi, Jan 18 (KNN) The Production Linked Incentive (PLI) Schemes have seen an investment influx exceeding Rs 1.03 lakh crore until November 2023, leading to total production or sales of Rs 8.61 lakh crore and the generation of over Rs 6.78 lakhs in direct and indirect employment. These schemes have also driven exports surpassing Rs 3.20 lakh crore, notably contributed to by sectors like Pharmaceuticals, Food Processing, and Telecom and Networking products. 746 applications have received approval in 14 sectors, with an anticipated investment exceeding Rs 3 lakh crore, as of Wednesday. 176 Micro, Small and Medium Enterprises (MSMEs), out of these applications, have benefited from PLI in sectors such as Bulk Drugs, Medical Devices, Pharma, Telecom, White Goods, Food Processing, Textiles and Drones, playing key roles as investment partners or contract manufacturers for major corporations. The PLI Scheme for Food Processing has resulted in a substantial increase in the sourcing of raw materials from India, positively impacting the income of Indian farmers and MSMEs. Incentives totalling around Rs 4,415 crore have been disbursed under PLI Schemes for eight sectors, including Large-Scale Electronics Manufacturing (LSEM), IT Hardware, Bulk Drugs, Medical Devices, Pharmaceuticals, Telecom and Networking Products, Food Processing, and Drones and Drone Components. The PLI Scheme has notably led to a significant reduction in imports of raw materials in the Pharmaceuticals sector. Across crucial sectors, PLI Schemes are playing a vital role in fostering global competitiveness for Indian manufacturers. These initiatives are successful in attracting investments that focus on core competencies and cutting-edge technology. Additionally, they ensure operational efficiencies and create economies of scale within the manufacturing landscape. The schemes contribute significantly to the boost in exports, further establishing India as an integral part of the global value chain. India's export basket has undergone a transformation under PLI Schemes, transitioning from traditional commodities to high-value-added products such as electronics and telecommunication goods, and processed food products. (KNN Bureau) 36335 https://knnindia.co.in/news/newsdetails/msme/over-rs-103-lakh-crore-investments-attracted-by-pli-schemes 2024-01-18 15:47:12 knnindia.co.in Over Rs 1.03 Lakh Crore Investments Attracted By PLI Schemes