Production-Linked Incentive Scheme News

To date, 806 applications have been approved under PLI schemes across 14 sectors. These schemes have incentivized domestic manufacturing, leading to increased production, job creation and a boost in exports.

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. 

It said that mere assembly of finished goods would not be incentivised and companies investing in basic/core components would get a higher priority. Earlier this month, the government approved a production-linked incentive (PLI) scheme for white goods - Air Conditioners (ACs) and LED Lights - with a budgetary outlay of Rs 6,238 crore. It will be implemented from 2021-22 to 2028-29. The group will be empowered to make any changes in the modalities of the scheme within the overall financial outlay of Rs 6,238 crore.

PM Narendra Modi deliberated on various production-linked incentive (PLI) schemes. PM Narendra Modi said that the increased manufacturing capacity results in increased job opportunities Prime Minister Narendra Modi laid emphasis on working hard to make manufacturing in India globally competitive

Around 22 companies have applied under the PLI Scheme. PLI Scheme is a scheme launched by the IT ministry which would give incentives of 4-6 per cent to electronics companies that manufacture mobile phones and other electronic components in India. Companies will produce mobile phone & components in India worth Rs 11.5 lakh crores in the coming 5 yrs out of which products worth Rs 7 lakh crores will be exported.