PLI Schemes Drive ₹1.28 Lakh Crore Investments and Job Growth

The Production Linked Incentive (PLI) programs spanning 14 sectors have resulted in investments exceeding Rs 1.28 lakh crore and the generation of over 8.5 lakh jobs. The initiatives have generated notable expansion in sectors like electronics, steel, pharmaceuticals, and defense production.

This increase in industrial expansion is mainly due to the ongoing success of the ‘Make in India’ program, which has enhanced India’s manufacturing environment during the last ten years.

For example, toy exports experienced a 239% rise, mobile phone manufacturing surged by 600%, and India turned into a net exporter of steel, with production having doubled in the last few years. Moreover, defense exports currently cover numerous nations, emphasizing India’s increasing role in the international arena.

The establishment of plug-and-play industrial parks in more than 100 cities has drawn substantial investments, enhancing India's appeal as a hub for industrial development. The Critical Mineral Mission was established to ensure access to vital resources for producing semiconductors, electric vehicles (EVs), and renewable energy products, while emerging bio-manufacturing initiatives seek to make India a frontrunner in bio-manufacturing.

India's key sectors have demonstrated impressive advancement. In FY24, the steel industry reached unprecedented levels of production and consumption, with a 50% rise in output since 2014, establishing India as a net exporter of finished steel.