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What is PLI Scheme of Goverment? What Are Its Benefits?

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Production Linked Incentive (PLI) Scheme from the government aims to expand manufacturing and production in India. Firstly the scheme was introduced for only the large scale electronic manufacturing sector in 1 August, 2020. However towards the ending months of the year 2020 the scheme was introduced for over 10 other sectors nationwide.

 

Production Linked Incentive, or PLI, seeks to reward businesses for increased sales of goods produced domestically. PLI invites foreign businesses to open offices in India, but it also intends to incentivize domestic businesses to open or expand their manufacturing facilities, create more jobs, and lessen India's dependency on imports from other nations.

As per the scheme, the government of India encourages domestic companies to expand their production and manufacturing, for which the government provides incremental sales or incentives.

Sectors Included In PLI Scheme With Financial Outlay

Sector NameFinancial outlay approved by government (Rs. In Crores)
Electronic/ Technology Products5000
Pharmaceutical drugs15,000
Telecom & Networking Products12,195
Textile Products: MMF segment and technical textiles10,683
High-Efficiency Solar PV modules4,500
Speciality Stell6,322
Advance Chemistry Cell (ACC ) Battery18,100
Automobile & Auto Components57,042
Food Products10,900
White Goods (ACs & LED)6,238

Benefits Of PLI Scheme

• PLI can improve building systems to adapt to climate change and even fundamentally reverse it in the many years to come because to the uniqueness and specificity of PLI related sectors, which generally include cautious and attentive emphasis on manpower and creating.

 

• PLI scheme promotes more employment and less import expenses in the country.

• The PLI programme can revive antiquated product cultures and designs that greatly enhance diversity while also reviving lost artistic talent buried by colonisation.

• The PLI programme is designed to reward increasing productivity.

• PLI scheme helps in the growth of the businesses with the growth of the country.

What is PLI Scheme of Goverment? What Are Its Benefits?

Read more about: pli scheme government
Story first published: Monday, September 19, 2022, 14:12 [IST]
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