Production-linked incentive (PLI) schemes for 14 sectors have attracted over Rs 1.06 lakh crore investments until December 2023 with pharma and photo voltaic modules accounting for practically half of the overall, in accordance with authorities information. The response to the schemes was tepid in sectors like IT {hardware}, auto, and auto elements, textiles, and ACC battery storage until December final yr.
The authorities in 2021 introduced PLI schemes for 14 sectors reminiscent of telecommunication, white items, textiles, manufacturing of medical gadgets, cars, speciality metal, meals merchandise, excessive-effectivity photo voltaic PV modules, superior chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 lakh crore.
According to the info, prescribed drugs and medicines sector attracted Rs 25,813 crore until December final yr, exceeding the anticipated investments of Rs 17,275 crore.
The main beneficiary on this sector embody Dr Reddy’s Laboratories, Cipla, Glenmark Pharma, Biocon and Wockhardt Ltd.
As regards the excessive effectivity photo voltaic PV modules, the overall funding was Rs 22,904 crore as towards the anticipated funding of Rs 1.10 lakh crore.
In this sector, the PLI beneficiaries embody Shirdi Sai Electricals, Reliance New Energy Solar Ltd, Adani Infrastructure and Tata Power Solar.
The different PLI sectors which acquired wholesome investments until December final yr included bulk medicine (Rs 3,586 crore as towards anticipated investments of Rs 3,939 crore), medical gadgets (Rs 864 crore as towards anticipated investments of Rs 1,330 crore), meals processing (Rs 7,350 crore as towards anticipated investments of Rs 7,541 crore), and telecom (Rs 2,865 crore as towards anticipated investments of Rs 4,014 crore).
The lowest funding was acquired in IT {hardware} at Rs 270 crore towards anticipated investments of Rs 2,517 crore.
The different PLI sectors with tepid investments included auto and auto elements (Rs 13,037 crore as towards anticipated investments of Rs 67,690 crore), textiles (Rs 3,317 crore as towards anticipated investments of Rs 19,798 crore), and ACC battery storage (Rs 3,236 crore as towards anticipated investments of Rs 13,810 crore).
According to an official, the federal government is reviewing and will have a look at tweaking the scheme for the sectors which aren’t performing properly.
The authorities has disbursed Rs 4,415 crore below the scheme for eight sectors, together with electronics and pharma, until October this fiscal.
A complete of Rs 1,515 crore was disbursed in FY24 until October, whereas it was Rs 2,900 crore in 2022-23, when funds below the scheme commenced.
The schemes purpose to draw investments in key sectors and slicing-edge know-how; guarantee effectivity, convey economies of measurement and scale within the manufacturing sector and make Indian firms and producers globally aggressive.
(This story has not been edited by News18 employees and is revealed from a syndicated information company feed – PTI)
