Govt disburses Rs 4,415 cr under different PLI schemes so far

In the fiscal year 2022-23, the disbursement amounted to Rs 2,900 crore. Rajeev Singh Thakur, the Additional Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), informed reporters that the incentive amount was distributed across eight sectors. These sectors include Large-Scale Electronics Manufacturing, IT Hardware, Bulk Drugs, Medical Devices, Pharmaceuticals, Telecom & Networking Products, Food Processing, and Drones and Drone Components.

The PLI schemes were introduced by the government in 2021, covering 14 sectors such as telecommunications, white goods, textiles, medical device manufacturing, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell batteries, drones, and pharmaceuticals. The total outlay for these schemes was Rs 1.97 lakh crore.

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These initiatives are designed to attract investments in critical sectors, promote cutting-edge technology, enhance efficiency, achieve economies of scale in manufacturing, and make Indian companies and manufacturers globally competitive. The substantial disbursement reflects the government’s commitment to fostering growth and innovation in key industries.