PLI Schemes Progress: Over 1200 Stakeholders to Discuss

New Delhi, Feb 2 (PTI) More than 1,200 stakeholders including government officials and industry players will on Saturday deliberate on the progress of 14 PLI schemes, according to an official release.

Officials from 10 ministries and departments, project management agencies and industry players from 14 PLI schemes will attend the meeting.

The meeting will discuss success stories, good practices, cross learnings.

The discussions are likely to set higher standards of achievements of the Production Linked Incentive (PLI) scheme and facilitate its effective implementation going forward, it said.

The government in 2021 announced PLI schemes for 14 sectors such as 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.

The schemes aim to attract investments in key sectors and cutting-edge technology; ensure efficiency, bring economies of size and scale in the manufacturing sector and make Indian companies and manufacturers globally competitive.

"This meeting will discuss the achievements, success stories and good practices under PLI schemes which have seen investments over Rs 1 lakh crore and production/sales of over Rs 8.7 lakh crore along with substantial number of direct and indirect employment generation," it said.

The exports have increased by over Rs 3.4 lakh crore.

"This meeting is likely to set new targets for achievements under all the PLI schemes going forward," the commerce and industry ministry said.

The objective is to bring all stakeholders on a common platform, fostering a sense of ownership to facilitate exchange of knowledge and experiences, good practices and success stories ultimately contributing to the successful implementation of PLI schemes, it added.

"The meeting is first of its kind as it is expected to witness participation of more than 1200 stakeholders from across the 14 PLI schemes being implemented throughout the country," the ministry said.

The deliberations assume significance as the government has disbursed only Rs 4,415 crore under the schemes for eight sectors, including electronics and pharma, till October this fiscal.

A total of Rs 1,515 crore was disbursed in FY24 till October, while it was Rs 2,900 crore in 2022-23 when payments under the scheme commenced.

Respective ministries along with Project Monitoring Agencies (PMAs), scrutinise the claim applications.

As of date, 746 applications have been approved in 14 sectors with an expected investment of over Rs 3 lakh crore. About 176 MSMEs are among the PLI beneficiaries in sectors such as pharma, and telecom.

By the end of this fiscal, the disbursal target is Rs 11,000 crore.