PLI Scheme Generates ₹14 Lakh Crore Sales and Boosts Manufacturing Sector

The sector has embraced the central government's dedication to strengthening India's manufacturing industry after the allocation of ₹14,020 crore under the Production-Linked Incentive (PLI) initiative. The program, spanning various sectors, has generated total sales of ₹14 lakh crore so far.

As per information gathered by the Ministry of Commerce and Industry, incentives totaling ₹14,020 crore have been allocated under the PLI schemes across 10 sectors, which include large-scale electronics production, IT hardware, bulk drugs, medical devices, pharmaceuticals, telecom products, food processing, white goods, automobiles, and drones.

The PLI schemes formulated according to India’s goal of attaining self-reliance (‘Atmanirbhar Bharat’), span 14 essential sectors and have drawn investments totaling ₹1.6 lakh crore.

Commenting on the development, Ashok Chandak, President of the India Electronics and Semiconductor Association (IESA), said, “This initiative is a major step toward job creation, expansion of India’s manufacturing ecosystem, and boosting exports, particularly in electronics and semiconductors. Going forward, we expect accelerated growth in the Electronics System Design and Manufacturing (ESDM) sector, fostering innovation, strengthening supply chains, and positioning India as a global hub for high-value electronics production.”

The PLI schemes have incentivized local manufacturing, resulting in boosted production, employment growth, and elevated exports. They have attracted considerable investments from both local and international firms.

As of now, 764 applications have been authorized under the PLI schemes covering the 14 sectors, including 176 Micro, Small and Medium Enterprises (MSMEs) as recipients. These encompass areas like bulk drugs, medical equipment, pharmaceuticals, telecommunications, consumer appliances, food processing, textiles, and drones, according to an official announcement.

As of November 2024, investments totaling approximately ₹1.61 lakh crore ($18.72 billion) have been documented. This has resulted in production valued at around ₹14 lakh crore ($162.84 billion) compared to the goal of ₹15.52 lakh crore up to FY 2024-25. The initiative has generated jobs for more than 11.5 lakh people, both directly and indirectly.