The government on Friday reviewed the progress of the production-linked incentive (PLI) schemes for all the 14 sectors, an official said. The meeting assumes significance as the government has disbursed Rs 2,900 crore till March 2023 under the scheme.
The empowered committee in PLI has also approved Rs 1,000 crore disbursal to beneficiary firms of the electronics sector. The scheme was announced in 2021 for 14 sectors like telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs 1.97 lakh crore.
Senior officers from different ministries, including the commerce and industry ministry and heavy industries ministry, participated in the review, the official said.
The purpose of the schemes is to attract investments in key sectors and cutting-edge technology; ensure efficiency and bring economies of size and scale in the manufacturing sector, and make Indian companies and manufacturers globally competitive.
The schemes have attracted over Rs 95,000 crore in investment till September 2023.According to the Commerce and Industry Ministry, 746 applications have been approved till November 2023 under these schemes.