ENA Sectors 2024-01-31 14:30:06 <p><span style="font-size:14px"><strong>New Delhi, Jan 31 (KNN)</strong> The government is contemplating adjustments to the Production Linked Incentive (PLI) schemes in specific sectors such as textiles, food processing, and pharmaceuticals, as disclosed by a senior official on Tuesday.</span></p> <p><span style="font-size:14px">The official mentioned that a finalised Cabinet note is being prepared to seek approval for these modifications from the top authorities, with the intention of fostering increased participation in these sectors.</span></p> <p><span style="font-size:14px">Introduced in 2021 for 14 sectors, including telecommunications, white goods, textiles, medical devices manufacturing, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharmaceuticals, the PLI scheme carried a substantial outlay of Rs 1.97 lakh crore.</span></p> <p><span style="font-size:14px">While some sectors like electronics are experiencing success, others are not meeting expectations.</span></p> <p><span style="font-size:14px">As of October this fiscal year, the government has disbursed Rs 4,415 crore under the PLI schemes for eight sectors, encompassing electronics and pharmaceuticals.</span></p> <p><span style="font-size:14px">Disbursement figures were Rs 1,515 crore from April to October in the fiscal year 2024, in contrast to Rs 2,900 crore in 2022-23 when payments under the scheme were initiated.</span></p> <p><span style="font-size:14px">The disbursed incentive amounts were directed towards large-scale electronics manufacturing, IT hardware, bulk drugs, medical devices, pharmaceuticals, telecommunications, food processing, and drones.</span></p> <p><span style="font-size:14px">The primary goals of these schemes are to attract investments and cutting-edge technology in pivotal sectors, ensure operational efficiency, bring about economies of size and scale in the manufacturing sector, and enhance the global competitiveness of Indian companies and manufacturers.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 36493 https://knnindia.co.in/news/newsdetails/sectors/govt-eyes-changes-to-pli-schemes-for-textiles-food-processing-pharma 2024-01-31 14:30:06 knnindia.co.in