Investments in sectors under PLI schemes may hit `2L cr in coming yrs

New Delhi: The 14 sectors covered under the production linked incentive (PLI) schemes have witnessed investments of Rs 1.46 lakh crore till August and the capital infusion is likely to reach Rs 2 lakh crore in the coming years, the Commerce Ministry said on Sunday.

Commerce and Industry Minister Piyush Goyal has held detailed discussions with companies that are getting fiscal benefits under the schemes to seek inputs and feedback.

The minister engaged with 140 companies out of the 1,300 manufacturing units across 14 sectors, which have been the beneficiaries of the scheme.

“Overall achievement of PLI schemes was also discussed during the meeting. Actual investment of Rs 1.46 lakh crore has been realised (till August 2024) and is likely to reach Rs 2 lakh crore in the next year or so,” the ministry said in a statement.

This has resulted in production/sales worth Rs 12.50 lakh crore and employment generation of around 9.5 lakh (direct and indirect), which is expected to reach 12 lakh soon, it said.

Exports have exceeded Rs 4 lakh crore, with substantial contribution from key sectors such as electronics, pharmaceuticals and food processing, it added.

In the meeting, Goyal urged the Indian industry to focus on prioritising the production of high-quality goods to promote Brand India through sustainable practices. He also called for focusing on increasing domestic value addition and extending support to domestic manufacturers in this regard. The minister stated that the government is committed to fast-tracking all the necessary approvals related to PLI industry and also providing handholding support in achieving greater market access.

Talking to media after the deliberations, the minister said it was an expectation that “we’ll see additional production of about Rs 11 lakh crore. But hearing some of the numbers today, my own sense is, both for domestic demand and for export, the production also will be much more than we had expected”.