Team Blitz India
NEW DELHI: The Production Linked Incentive (PLI) scheme is expected to attract investments of Rs 3-4 trillion in the next four years and generate 200,000 jobs, a top ICRA executive said on June 12.
ICRA Executive Vice President and Chief Ratings Officer K Ravichandran said that going ahead private sector capex is expected to pick up in oil and gas, metals and mining, hospitals, healthcare and cement sectors.
However, taking the private sector capex to record high levels would require the government to give some tax breaks so that people have more disposable income in their hands.
“Under the PLI scheme, we are expecting Rs 3-4 trillion of additional investments in the next 3-4 years. Going ahead, semiconductor, solar module, and pharmaceutical intermediaries are some areas where large projects are expected to happen which can be capital and employment-intensive. They would be generating 2 lakh jobs in different sectors,” Ravichandransaid.
The PLI scheme was announced in 2021 for 14 sectors, including telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell batteries, drones, and pharma, with an outlay of Rs 1.97 trillion.
PLI schemes have witnessed over Rs 1.03 trillion of investment till November 2023, and employment generation of over 678,000.
