- Union commerce minister Piyush Goyal said that actual investments under production linked incentive (PLI) schemes stood at INR 1.46 lakh crore till August 2022.
- He expects investments to breach INR 2 lakh crore soon as more companies commence production under the PLI schemes.
- Goyal engaged in discussions with 140 companies that are beneficiaries of PLI schemes across 14 sectors. Originally, 1300 manufacturing units across sectors were selected.
- The government had estimated total investments of INR 46 lakh crore would be made under PLI schemes throughout the duration of the schemes.
- In May 2022, the PLI schemes were revised making most manufacturers eligible to start production immediately.
- Several sectors and companies have received benefits – Reliance Industries selected for ACC battery PLI, Dixon’s subsidiary signed MoU with HP for laptop production under PLI, Ola Electric’s e-scooter model got DVA certification needed for auto PLI.
- PLI schemes are aimed at boosting domestic manufacturing in strategic sectors by offering incentives on incremental sales from products manufactured in India.
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