PLI Scheme created 11.5 lakh jobs so far, investment of Rs 1.61 lakh crore, production of Rs 14 lakh crore

Under the Production Linked Incentive (PLI) scheme launched to increase manufacturing in the country, a total investment of Rs 1.61 lakh crore has been attracted as of November 2024. Additionally, more than 11.5 lakh people have been provided employment (direct and indirect).

The Ministry of Commerce and Industry said in a statement that with an investment of Rs 1.61 lakh crore, production of approximately Rs 14 lakh crore and exports of Rs 5.31 lakh crore have been achieved. The government has set a target of production of Rs 15.52 lakh crore for the current financial year 2024-25 under the scheme.

The ministry said the central government has approved a total of 764 applications under the PLI scheme for 14 major sectors. This also includes 176 micro, small, and medium enterprises (MSMEs) among the PLI beneficiaries from sectors like bulk drugs, medical devices, pharma, telecom, white goods, food processing, textiles, and drones.

The government has received interest from 35 companies with an investment commitment of Rs 25,000 crore in the second round of the PLI scheme for special steel. According to the Commerce Ministry, the Steel Ministry is in the process of selecting these companies and signing MoUs with them. These projects are estimated to be given incentives of Rs 3,600 crore. An incentive of Rs 2,000 crore will be distributed by the end of the scheme period.