Team Blitz India
NEW DELHI: The Production Linked Incentive (PLI) Scheme has led to a production or sales worth Rs 8.7 lakh crore and generated employment for over 7 lakh, according to a report released by the Department of Economic Affairs on January 29.
The Indian Economy: A Reviewsays 176 MSMEs have directly benefited from the scheme launched in March 2020 to boost production in the country. The PLI Scheme came after industry saw the global supply chain getting severely disrupted due to the pandemic.
The report stated that under the PLI Scheme, which saw an outlay of Rs 1.97 lakh crore, approved 746 applications till the end of December 2023.
The scheme witnessed over Rs 1.07 lakh crore of investment, leading to production/sales of Rs 8.7 lakh crore and employment generation of over 7 lakh.
“The scheme has witnessed exports exceeding Rs 3.4 lakh crore, with significant contributions from sectors such as large-scale electronics manufacturing, pharmaceuticals, food processing and telecom and networking products,”the report said.