In the wake of the inception of Production Linked Incentive (PLI) schemes, a substantial investment of ₹1.03 lakh crore has been injected into 14 key sectors. The government anticipates disbursing incentives amounting to ₹11,000 crore in the fiscal year 2023-24.
Incentives worth ₹44,150 crore have been paid out so far under the PLI scheme in eight sectors even as the companies availing of the schemes have shown exports worth over ₹3 lakh crore.
With 1,000 manufacturing units already up and running and most PLI schemes in the production stage, the government is hoping for export numbers to increase further as at least 8 PLI sectors are expected to begin disbursement by the next financial year.
Stating that core issues about PLI schemes like investment, production, employment, and exports are on track, DPIIT's additional secretary Rajeev Singh Thakur said some issues with individual PLI schemes are being addressed at different levels within the concerned ministry, DPIIT, Niti Aayog and the Empowered Group of Secretaries.
Even as the internal review mechanisms within government departments work on fine-tuning PLI schemes, he assured that there are no reports of fake claims or major roadblocks in PLI sectors. He added that the government is in a consolidation phase concerning the 14 PLI schemes, and no announcement of a new scheme is likely shortly.
Terming the geopolitical challenges and Red Sea conflict as a transit phase as per stakeholder consultation, he assured that extraneous conditions won't be able to impact the Indian economy significantly. However, he said the slowdown in many economies may impede their potential to import Indian products, including from the PLI sectors.
(Edited by : Jomy Jos Pullokaran)
First Published: Jan 18, 2024 12:23 AM IST
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