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PLI schemes attract Rs 1.76 lakh cr investment, create 12 lakh jobs: Govt

Economic Times

Economic Times · 2m ago

PLI schemes attract Rs 1.76 lakh cr investment, create 12 lakh jobs: Govt

India's production-linked incentive (PLI) schemes have attracted Rs 1.76 lakh crore in investments and generated over Rs 16.5 lakh crore in output, creating 12 lakh jobs by March 2025. The government has disbursed Rs 21,534 crore across 14 sectors, including electronics, pharma, and textiles. The PLI program aims to boost domestic manufacturing, reduce imports, and enhance exports. Significant growth has been seen in sectors like pharmaceuticals, food processing, and textiles, benefiting MSMEs and rural areas.

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806 applications approved so far under PLI schemes for 14 sectors

Economic Times

Economic Times · 1m ago

806 applications approved so far under PLI schemes for 14 sectors

The Indian government has approved 806 applications under the Production Linked Incentive (PLI) schemes across 14 sectors, aiming to enhance manufacturing and exports with an outlay of Rs 1.97 lakh crore. These sectors include telecom, electronics, and pharmaceuticals. The initiative has led to a realized investment of Rs 1.76 lakh crore, producing incremental production of over Rs 16.5 lakh crore. The scheme notably contributed to significant export growth in pharmaceuticals and mobile phones.

Investments in sectors under PLI schemes expected to hit Rs 2 lakh cr in coming years

YourStory

YourStory · 11m ago

Investments in sectors under PLI schemes expected to hit Rs 2 lakh cr in coming years

The production linked incentive (PLI) schemes in India's 14 sectors have attracted investments of Rs 1.46 lakh crore, with an expected total capital infusion of Rs 2 lakh crore in the future. The schemes have resulted in production/sales worth Rs 12.50 lakh crore, employment generation of around 9.5 lakh, and exports exceeding Rs 4 lakh crore. Commerce and Industry Minister Piyush Goyal discussed the progress of the schemes with beneficiary companies and emphasized the importance of prioritizing high-quality goods and increasing domestic value addition. CEOs provided suggestions for improving the effectiveness and implementation of the PLI schemes.

Govt to launch another round of PLI scheme for steel sector on Monday

YourStory

YourStory · 7m ago

Govt to launch another round of PLI scheme for steel sector on Monday

The government will launch another round of the production-linked incentive (PLI) scheme for the steel sector, particularly for specialty steel, to encourage domestic production and reduce imports. The scheme aims to attract further investments and create jobs. Although the initial PLI scheme had lukewarm participation, it has generated significant investments and employment so far. The renewed effort seeks greater participation to boost the manufacturing of specialty steel, which is crucial in various industries like defense and automotive.

Investment Under PLI Expected To Breach INR 2 Lakh Cr Soon: Piyush Goyal

Inc42 · 11m ago

Investment Under PLI Expected To Breach INR 2 Lakh Cr Soon: Piyush Goyal

Union Commerce Minister Piyush Goyal announced that investments worth INR 1.46 lakh crore have been made under the production linked incentive (PLI) schemes as of August. He expects this figure to soon surpass INR 2 lakh crore. Goyal recently held discussions with 140 out of the 1,300 manufacturing units across 14 sectors that have benefited from the scheme. The PLI scheme was revised in May, making a majority of manufacturers eligible to begin production.

NBFC lobby seeks govt incentives for EV financing to overcome bottlenecks

YourStory

YourStory · 5m ago

NBFC lobby seeks govt incentives for EV financing to overcome bottlenecks

A lobby group of non-bank lenders has requested a government incentive scheme for electric vehicle (EV) financing, similar to the FAME and PLI schemes, to overcome bottlenecks in EV adoption. The Finance Industry Development Council highlighted challenges such as the lack of incentives for financiers, and issues with battery life assessment and resale mechanisms. They proposed setting up a dedicated fund with SIDBI or NABARD and offering subsidized interest rates for EV loans under Rs 10 lakh.

Govt disburses Rs 14,020 crore in ten PLI schemes so far

Economic Times

Economic Times · 5m ago

Govt disburses Rs 14,020 crore in ten PLI schemes so far

The Indian government has disbursed Rs 14,020 crore under Production-Linked Incentive (PLI) schemes for ten sectors, including electronics and pharma, to promote domestic manufacturing. Launched for 14 sectors, the schemes aim to boost production and exports. So far, 764 applications have been approved across various sectors, resulting in significant investments, production value, and job creation. The schemes also encourage exports, with electronics and pharmaceuticals making notable contributions.

electronics sector: Higher capex need, longer gestation period challenges for electronics sector, govt tells Lok Sabha - The Economic Times

Business Insider

Business Insider · 8m ago

electronics sector: Higher capex need, longer gestation period challenges for electronics sector, govt tells Lok Sabha - The Economic Times

The electronics manufacturing sector in India faces challenges such as high capital expenditure, long gestation periods, and competition with global players. However, the sector is growing at a CAGR of 17%, with a total value of Rs 9.52 lakh crore in fiscal 2024. The export of electronic goods has also increased at a CAGR of over 20%. To overcome these challenges, the government has approved various initiatives and schemes, resulting in significant foreign direct investment. Additionally, the government has revised and expanded the issuance of PLI business visas to enhance ease of doing business in the sector.

Govt approves Rs 417 crore electronics manufacturing cluster in UP; set to create 15,000 jobs - The Economic Times

Economic Times

Economic Times · 2m ago

Govt approves Rs 417 crore electronics manufacturing cluster in UP; set to create 15,000 jobs - The Economic Times

The government has approved a Rs 417 crore electronics manufacturing cluster (EMC 2.0) in Gautam Buddha Nagar, Uttar Pradesh, expected to attract Rs 2,500 crore in investment and create 15,000 jobs. The cluster will support the manufacturing of consumer electronics, automotive and industrial electronics, and more. Located strategically along major expressways and close to key transport hubs, it will offer world-class infrastructure for startups and MSMEs, aiming to boost local manufacturing and innovation.

Apple Supply Chain Expands in Tamil Nadu

StartupTalky

StartupTalky · 1m ago

Apple Supply Chain Expands in Tamil Nadu

Apple's supply chain is expanding in Tamil Nadu with a significant INR 30,000 crore investment, expected to create 60,000 jobs. Driven by strong infrastructure and talent, Apple suppliers are setting up manufacturing in the state. The Tamil Nadu Electronics Components Manufacturing Scheme offers incentives comparable to national schemes to attract companies. Major suppliers include Foxconn, Tata Electronics, and Pegatron. This move is part of Apple's strategy to diversify its supply chain beyond China.

Create jobs: Mahindra reacts to jobless youth at Mumbai airport

Inshorts · 1y ago

Create jobs: Mahindra reacts to jobless youth at Mumbai airport

Despite public anger over Budget 2024, Finance Minister Nirmala Sitharaman emphasized job creation. Anand Mahindra supported this, highlighting a viral photo of 25,000 people vying for 600 jobs at Mumbai airport. Mahindra praised government schemes aiming to create 4.1 crore jobs with a ₹2 lakh crore outlay, urging private sector involvement to prevent a demographic disaster.

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