{"id":162428,"date":"2024-02-15T14:01:37","date_gmt":"2024-02-15T08:31:37","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=162428"},"modified":"2024-02-15T14:01:37","modified_gmt":"2024-02-15T08:31:37","slug":"pli-schemes-drew-rs-95000-cr-investments-by-september-2023-centre","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/pli-schemes-drew-rs-95000-cr-investments-by-september-2023-centre\/","title":{"rendered":"PLI Schemes Drew Rs 95,000 Cr Investments By September 2023: Centre"},"content":{"rendered":"\n<p>The<strong>&nbsp;production-linked incentive<\/strong>&nbsp;(PLI)&nbsp;<strong>schemes<\/strong>&nbsp;introduced by the Indian government have emerged as a key driver for attracting investments and boosting manufacturing across various sectors. As of September this year, these initiatives have garnered an impressive&nbsp;<strong>Rs 95,000 crore in investment<\/strong>, marking a significant stride towards enhancing India\u2019s manufacturing capabilities and exports.<\/p>\n\n\n\n<p>Budgetary Commitment and Sectoral Focus<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In the Union Budget 2021-22, the government allocated a substantial outlay of Rs 1.97 lakh crore for the PLI schemes, underscoring their strategic importance in fostering economic growth.<\/li>\n\n\n\n<li>These schemes<strong>&nbsp;cover 14 sectors<\/strong>, including electronics, telecommunication, pharmaceuticals, white goods (AC and LED light components), and textiles, with the overarching goal of fortifying India\u2019s position in global manufacturing and trade.<\/li>\n<\/ul>\n\n\n\n<p>Robust Application Approval and Geographical Impact<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Commerce and Industry Ministry reports the approval of 746 applications under these schemes until November 2023.<\/li>\n\n\n\n<li>Notably, PLI units have been established in more than 150 districts across 24 states, showcasing a widespread geographical impact. This decentralized approach contributes to equitable economic development and job creation.<\/li>\n<\/ul>\n\n\n\n<p>Impressive Investment and Economic Impact<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The approved applications have resulted in a staggering Rs 95,000 crore in investments, leading to the production and sales of goods amounting to Rs 7.80 lakh crore.<\/li>\n\n\n\n<li>The direct and indirect employment generated surpasses 6.4 lakh, highlighting the schemes\u2019 pivotal role in fostering job opportunities across the nation.<\/li>\n<\/ul>\n\n\n\n<p>Incentive Disbursement and Achievements in 2022-23<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In the fiscal year 2022-23, the&nbsp;<strong>government disbursed incentives totaling around Rs 2,900 crore<\/strong>, further incentivizing businesses to participate actively in these schemes.<\/li>\n\n\n\n<li>Moreover, within a span of three years, there has been a commendable 20% value addition in mobile manufacturing, showcasing the positive impact on the electronics sector.<\/li>\n<\/ul>\n\n\n\n<p>Milestones in Electronics and Telecommunication<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Of the total electronics production worth USD 101 billion in 2022-23, smartphones constituted USD 44 billion, with USD 11.1 billion attributed to exports.<\/li>\n\n\n\n<li>Notably, the telecom sector has achieved a<strong>&nbsp;remarkable 60% import substitution<\/strong>, rendering India almost self-reliant in critical components such as Antennae, GPON, and CPE.<\/li>\n<\/ul>\n\n\n\n<p>Transformations in Pharma Sector<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The PLI schemes have also contributed to reducing imports of raw materials in the pharmaceutical sector.<\/li>\n\n\n\n<li>India now manufactures unique intermediate materials and bulk drugs, including significant achievements in areas like Penicillin-G.<\/li>\n\n\n\n<li>Additionally, there has been a successful transfer of technology in the production of medical devices such as CT scans and MRIs.<\/li>\n<\/ul>\n\n\n\n<p>White Goods Sector Gains Traction<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In the white goods sector, focusing on AC and LED light components, 64 companies have been selected under the PLI scheme.<\/li>\n\n\n\n<li>Thirty-four of these companies are set to invest Rs 5,429 crore in air conditioner components, while 30 companies will invest Rs 1,337 crore in LED component manufacturing.<\/li>\n\n\n\n<li>The envisioned additional investments of Rs 6,766 crore are expected to create about 48,000 direct employment opportunities, with 13 foreign companies contributing Rs 2,090 crore to the scheme.<\/li>\n<\/ul>\n\n\n\n<p>Summary<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Investment Inflow<\/strong>: PLI schemes draw Rs 95,000 crore in investments, boosting economic prospects.<\/li>\n\n\n\n<li><strong>Sectoral Focus<\/strong>: 746 approved applications span 14 sectors, emphasizing diverse industrial growth.<\/li>\n\n\n\n<li><strong>Geographical Impact<\/strong>: PLI units established in 150+ districts across 24 states for widespread development.<\/li>\n\n\n\n<li><strong>Economic Impact<\/strong>: Investments result in Rs 7.80 lakh crore production and 6.4 lakh jobs.<\/li>\n\n\n\n<li><strong>Sectoral Achievements<\/strong>: Electronics, telecom, pharma, and white goods show substantial growth and self-reliance.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;production-linked incentive&nbsp;(PLI)&nbsp;schemes&nbsp;introduced by the Indian government have emerged as a key driver for attracting investments and boosting manufacturing across various sectors. As of September this year, these initiatives have garnered an impressive&nbsp;Rs 95,000 crore in investment, marking a significant stride towards enhancing India\u2019s manufacturing capabilities and exports. Budgetary Commitment and Sectoral Focus Robust Application Approval [&hellip;]<\/p>\n","protected":false},"author":419,"featured_media":162429,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5229],"tags":[1475,60],"offerexpiration":[],"class_list":["post-162428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-december-2023","tag-daily-current-affairs","tag-government-schemes-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/162428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/419"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=162428"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/162428\/revisions"}],"predecessor-version":[{"id":162430,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/162428\/revisions\/162430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/162429"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=162428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=162428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=162428"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=162428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}