Business

PLI Schemes Attract ₹1.46 Lakh Crore Investment, Generate 9.5 Lakh Jobs, Govt Tells Parliament

The Production Linked Incentive (PLI) schemes have attracted ₹1.46 lakh crore in investments and created over 9.5 lakh jobs, Commerce and Industry Minister Piyush Goyal informed the Lok Sabha. The government has approved 764 applications under the PLI schemes across 14 sectors.

Goyal stated in a written reply that by August 2024, investments under the PLI schemes led to additional production and sales worth ₹12.50 lakh crore. Exports have exceeded ₹4 lakh crore, he added. The government disbursed incentives of ₹2,968 crore in eight sectors during 2022-23 and ₹6,753 crore in nine sectors during 2023-24.

Driving Self-Reliance and Exports

The minister emphasized that the PLI schemes aim to make India self-reliant by enhancing manufacturing capabilities. The schemes, with an outlay of ₹1.97 lakh crore, focus on boosting exports and strengthening domestic industries.

A Goldman Sachs report highlighted significant growth in India’s capital-intensive sectors like electronics, chemicals, and machinery. These industries have seen a rise in exports and employment, driven by government reforms and PLI incentives.

Transforming India’s Manufacturing Sector

The manufacturing sector is undergoing rapid transformation with support from the PLI schemes. The schemes are fostering technological advancements, enhancing competitiveness, and attracting both foreign and domestic investments.

The Goldman Sachs report also noted the government’s efforts to promote electronics assembly, machinery, and pharmaceutical manufacturing. These initiatives have boosted exports to developed markets, achieving double-digit growth. India is now shifting toward an export basket with more high-value products, reflecting progress in global trade.

Also Read: SC to Hear Plea on Shifting Yasin Malik Trial from Jammu to Delhi on January 20

Ajaypal Choudhary

Recent Posts

PM Modi Interacts With Group Captain Shubhanshu Shukla Aboard The ISS

PM Narendra Modi interacted with Group Captain Shubhanshu Shukla, the first Indian to reach the…

6 mins ago

Gautam Adani, Family Participate In Puri Rath Yatra; Launch Massive ‘Prasad Seva’ Initiative

Gautam Adani, along with his wife Priti Adani and son Karan Adani, joined thousands of…

45 mins ago

PM Modi, Leaders Pay Tribute To Former PM PV Narasimha Rao On Birth Anniversary

PM Narendra Modi on Saturday paid tribute to former Prime Minister PV Narasimha Rao on…

1 hour ago

Gautam Adani Hails Divine Experience At Rath Yatra; Praises Odisha’s Graceful Management

Gautam Adani conveyed profound spiritual emotions after witnessing the revered Rath Yatra of Lord Jagannath…

1 hour ago

Punjab’s Litchis Reach Middle East Markets In Boost To India’s Fruit Exports

In a step towards diversifying India’s horticultural exports, Punjab has successfully shipped its first consignment…

2 hours ago

Dalal Street Sees Strong Activity Of IPOs In June As Market Sentiment Improves

India’s primary market experienced a surge in activity in June 2025 as investor sentiment toward…

2 hours ago