Booming PLI Scheme Accumulates Sales of ₹16.5 Trillion, Investments Surpass ₹1.76 Trillion, Provides Over 12 Million Job Opportunities
The Indian government's Production Linked Incentive (PLI) Scheme, launched with the aim of making India competitive in various global markets, has seen significant success across multiple sectors.
In the textile industry, the PLI Scheme for Textiles, approved with an outlay of Rs 10,683 crore in September 2021, aims to promote the production of man-made fibre (MMF) apparel, MMF fabrics, and products of technical textiles.
The electronics sector has experienced a remarkable surge, with production reaching Rs 5.25 lakh crore in FY 2024-25, a 146% increase under the PLI strategy. The automobile & auto components sector has also benefited, attracting committed investments worth Rs 67,690 crore.
The PLI Scheme has generated over 12 lakh direct and indirect employment opportunities. In the EV and clean-tech sector alone, investments of Rs 14,043 crore have been made, resulting in over 28,884 jobs as of March 2024.
The PLI Scheme has not only attracted domestic players but also global giants. South Korea's Hwaseung Footwear Group, for instance, will invest ₹1,720 Crore in India's first non-leather footwear manufacturing unit. Major smartphone companies have also shifted their production to India due to the PLI Scheme.
India has become a major player in mobile phone manufacturing, with automobile exports crossing ₹1.2 lakh crore. The food processing sector has also seen growth, with the approval of 171 applications under the PLI scheme, resulting in investments of over Rs 8,910 crore.
The PLI Scheme has played a key role in transforming India from a heavily import-dependent country to a serious contender in global manufacturing. In the pharmaceutical drugs sector, India has transitioned from a net importer to a net exporter of bulk drugs to the tune of Rs 2,280 crore in FY 2024-25.
However, specific details about companies approved for projects in electronics, pharmaceuticals, medical technology, and textiles under the Indian government's PLI program in 2021 and 2022 could not be found in the search results.
Under the PLI scheme for high-efficiency solar PV modules, investments worth Rs 48,120 crore have been committed, generating nearly 38,500 direct jobs as of June 30. The production impact of the PLI schemes has resulted in total sales by PLI participants exceeding Rs 16.5 lakh crore.
By November 2024, committed investments under the PLI scheme had reached Rs 1.61 lakh crore. The PLI Scheme for White Goods, launched in April 2021, aims to transform India from an assembly hub to a high-value manufacturing base, targeting a jump in domestic value addition from 20-25% to 75-80% by 2028-29.
India's EV exports are planned to reach 100 countries, as stated by PM Modi. The PLI Scheme has exceeded investments of Rs 1.76 lakh crore, demonstrating its significant impact on India's domestic manufacturing sector.
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