Union Commerce Minister Piyush Goyal announced that actual investments under the Production Linked Incentive (PLI) schemes reached INR 1.46 lakh crore by August and are expected to surpass INR 2 lakh crore soon.
He also interacted with 140 companies from the 1,300 manufacturing units across 14 sectors that have benefited from the scheme.
“We had estimated around INR 46 lakh crore in investments across 14 sectors. Now, we expect over INR 2 lakh crore to be invested through the Production Linked Incentive (PLI) scheme over its duration,” said Piyush Goyal.
The scheme was revised in May, allowing the majority of manufacturers to begin production.
This progress follows weeks after the PLI scheme benefited several manufacturers across various sectors.
For example, Reliance Industries Limited (RIL) was chosen by the Ministry of Heavy Industries (MHI) as the successful bidder in the global tender for the PLI scheme’s 10 GWh advanced chemistry cell (ACC) manufacturing.
Meanwhile, Dixon’s subsidiary Padget Electronics signed a Memorandum of Understanding (MoU) with HP India to manufacture personal computers (PCs) and laptops, allowing HP India to benefit from PLI Scheme 2.0 and enhance domestic production.
Additionally, Ola Electric’s S1 X e-scooter models (both 3 kWh and 4 kWh) received Domestic Value Addition (DVA) certification in August, making them eligible for the PLI scheme for automobiles and auto components.