PLI scheme: Electronics, pharma receive 70% of total disbursements for FY25
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The electronics and pharma industry were the biggest beneficiary of the government's PLI scheme for the previous financial year FY25 cornering around 70% of the of the total fiscal incentive disbursements, according to government data quoted in a PTI report.PLI scheme, which was introduced in 2021, initially for 14 industries, has been a success in boosting India's manufacturing prowess.Out of a total of Rs 10,114 crore disbursed by the government for the year 2024-25, the two sectors -- electronics and pharma -- got Rs 5,732 crore and Rs 2,328 crore respectively. In 2023-24, the disbursals stood at Rs 9,721 crore, according to the report.Owing to the success of the PLI scheme in boosting electronics manufacturing , the sector is now included in top 3 product categories that are exported globally.The figures highlight the country's growing strength in these segments amid efforts to boost manufacturing and value-added exports.The country's electronic goods shipment saw the highest export growth rate at 32.46 per cent, jumping from USD 29.12 billion in 2023-24 to USD 38.58 billion in the last fiscal year. It was USD 23.6 billion in 2022-23 and USD 15.7 billion in 2021-22.Within this, computer hardware and peripherals, which form 3.8 per cent of the sector, saw 101 per cent growth, doubling from USD 0.7 billion to USD 1.4 billion in 2024-25.The main destinations for electronic goods were the UAE, the US, the Netherlands, the UK, and Italy.According to the data, Indian drugs and pharmaceuticals are reaching over 200 countries now. These exports increased by about 10 per cent to USD 30.5 billion in 2024-25.(With inputs from PTI)
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