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PLI INVESTMENTS SURPASS RS 32,500 CR IN H1 FY23
The Business Guardian
|December 29, 2023
Among the 14 PLI schemes introduced since March 2020, the most successful ones include electronics (including smartphones), advanced chemistry cells, bulk drugs, medical devices, pharmaceuticals, automobiles, white goods, and drones
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Official sources reported that businesses benefiting from production-linked incentives poured in investments totaling Rs 32,500 crore in the initial six months of the ongoing fiscal year. This brings the cumulative investments facilitated by performance-linked incentives to surpass Rs 95,000 crore.
In the initial half of the fiscal year 2024 (FY24), units supported by the Production-Linked Incentive (PLI) program recorded noteworthy achievements, as revealed by sources from the Department for Promotion of Industry and Internal Trade. These PLI-backed units generated incremental sales and exports amounting to Rs 1.05 trillion and Rs 64,000 crore, respectively.
During H1FY24, the beneficiary units contributed to direct and indirect employment, creating 0.315 million jobs. This brings the total employment generated under these schemes to 0.64 million, as per official sources.
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