PLI Scheme News

Almost 1,600 projects leading to the creation of 41 lakh tonnes of food processing capacity and benefiting almost nine lakh farmers.

In addition, he added that the government is implementing Rebate of State and Central Taxes and Levies (RoSCTL) scheme for Apparel/Garments and Made-ups in order to enhance competitiveness by adopting principle of zero rated exports. 

FM Sitharaman further stated that Tamil Nadu is the second-largest recipient of PLI incentives for automobile and auto component manufacturing.

The PLI schemes (Rs 1.97 lakh crore outlay) for 14 key sectors are driving manufacturing growth, as telecom equipment manufacturing surpassed Rs 50,000 crore in sales under the PLI scheme, according to latest government data. 

Apple India: Apple has hit record iPhone export figures from India, reaching Rs1 lakh crore in just 10 months (April-January) of the current financial year (FY25), thanks to the PLI scheme. 

The FDI equity inflow in the manufacturing sector has increased by 69 per cent, rising from $98 billion (2004-2014) to $165 billion (2014-2024), driven by the Production-Linked Incentive (PLI) scheme, the government said on Monday. 

This unprecedented performance underscores the transformative impact of the production-linked incentive (PLI) scheme, which has redefined India’s electronics manufacturing landscape 

India is a huge market for Apple and “we have achieved a December quarter growth record where the iPhone was the top selling model in the country for the October-December period of 2024,” Apple CEO Tim Cook said last month. 

India’s semiconductor market is projected to grow to $103.4 billion by 2030, powering the $400+ billion electronics market. 

Union Budget 2025-26: The projects are expected to generate around 25,000 advanced technology direct jobs and an additional 60,000 indirect jobs marking a significant milestone in boosting India's technological workforce. 

iPhone Exports From India In 2024: Apple's growth in India is expected to continue with significant momentum in the coming year, driven by aggressive retail expansion, targeted marketing strategies, and deeper penetration into the aspirational Indian market. 

PLI Scheme 1.1 covers five (5) product categories in line with the existing PLI Scheme, namely Coated / Plated Steel Products, High Strength / Wear resistant Steel, Specialty Rails, Alloy Steel Products & Steel wires and Electrical Steel. 

The concept of Production-Linked Incentives (PLI) was conceived during the global lockdowns of 2020, emphasising the need to boost domestic manufacturing.  

The scheme is for a period of five years from April 1, 2019, with a total budgetary support of Rs 11,500 crore. The scheme incentivised e-2Ws, e-3Ws, e-4Ws, e-buses and EV public charging stations. 

The government's forward-looking initiatives, such as the New Foreign Trade Policy, PLI Schemes, and many others, play a pivotal role in enhancing India’s competitiveness on the global stage.

The central government has revised the performance-linked incentive scheme for whole-time directors and senior executives of public sector banks.

According to the Ministry of Commerce and Industry, about 43 per cent of the new applicants are in the MSME sector which shows the confidence among MSMEs to become part of the value chain of manufacturing of components of ACs and LED lights. 

In India, mobile phone exports, led by Apple, from the country touched nearly $16 billion in FY24 from $11 billion in FY23.  

The application window is being opened on the same terms & conditions stipulated in the PLI white goods scheme notified on April 16, 2021, and the guidelines issued on June 4, 2021.

Currently, Production-Linked Incentive (PLI) scheme is available for 14 sectors.