India approved 746 applications till November under production-linked incentive schemes for different sectors

As many as 746 applications have been approved till November 2023 under the Production Linked Incentive (PLI) schemes for 14 sectors such as pharma, white goods, and electronics, an official statement said on Tuesday. The schemes for 14 sectors were announced with an outlay of ₹1.97 lakh crore to enhance India's manufacturing capabilities and exports.

The commerce and industry ministry said that beneficiary companies have set up units in more than 150 districts (24 states) and over ₹95,000 crore of investment has been reported till September, which has led to production/sales of ₹7.80 lakh crore and employment generation of over 6.4 lakh. "746 applications have been approved till November 2023… Incentives worth around ₹2,900 crores have been disbursed in 2022-23. There has been a value addition of 20% in mobile manufacturing within a period of 3 years," the statement said.

It added that of the $101 billion worth of total electronics production in 2022-23, smartphones constituted $44 billion, including $11.1 billion as exports. "Import substitution of 60% has been achieved in the telecom sector and India has become almost self-reliant in Antennae, GPON (Gigabit Passive Optical Network) and CPE (Customer Premises Equipment)," the ministry said.