&w=3840&q=100)
806 applications approved so far under PLI schemes across 14 sectors
The schemes for 14 key sectors including telecom, electronics, pharma, textiles and auto were announced with an outlay of ₹ 1.97 lakh crore to enhance India's manufacturing capabilities and exports. It was announced in 2021.
"As on date, 806 applications have been approved under PLI schemes across 14 sectors," Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha.
He said that actual investment of ₹ 1.76 lakh crore has been realised till March 2025 across 14 sectors, which has resulted in incremental production/sales of over ₹ 16.5 lakh crore and employment generation of over 12 lakh (direct and indirect jobs).
The pharmaceuticals sector has witnessed cumulative sales of ₹ 2.66 lakh crore, which includes exports of ₹ 1.70 lakh crore achieved in the first three years of the scheme, Prasada said.
The scheme has contributed to India becoming a net exporter of bulk drugs (₹ 2,280 crore) from a net importer (₹ 1,930 crore) as was the case in 2021-22.
In the mobile segment, the production in value terms has increased by around 146 per cent from ₹ 2,13,773 crore in 2020-21 to ₹ 5,25,000 crore in 2024-25.
"Exports of mobile phones in value terms have increased by around 775 per cent from ₹ 22,870 crore in 2020-21 to ₹ 2,00,000 crore in 2024-25," he added.
The minister informed that a cumulative incentive amount of ₹ 21,534 crore has been disbursed as on June 24 under PLI scheme for 12 sectors, including Large Scale Electronics Manufacturing, IT Hardware, Bulk Drugs, Medical Devices, and Pharmaceuticals.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 hours ago
- Time of India
No proposal for Bhubaneswar Metro to Centre: MoS
1 2 Bhubaneswar: The Bhubaneswar Metro rail project is notably absent from the list of metro rail proposals either received or sanctioned by the Centre, according to a reply by Union minister of state for housing and urban affairs, Tokhan Sahu, in the Lok Sabha on Friday. Over the past five years, the Centre received 17 proposals, including those submitted this year, but Bhubaneswar's project is not among them. In response to a query from Bharat Mathukumilli, Sahu informed the Lok Sabha that 24 metro projects are currently at various stages of implementation, in addition to the 17 approved by the Centre. Odisha's housing and urban development minister, Krushna Chandra Mahapatra, explained that the previous BJD govt did not submit a proposal for Bhubaneswar Metro because it intended to undertake the project independently, without central assistance. However, the current BJP govt plans to seek the central aid and will submit a proposal in due course. Mahapatra emphasised that the govt is earnestly planning a viable Metro project for the state capital, clarifying that the absence of a proposal submission to the Centre does not indicate lack of seriousness. "We have reimagined the Metro train project differently from the past govt's plan, which was not feasible. We aim to execute it as a joint venture with the Centre's help," Mahapatra said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like IQ Worldwide - Test your Intelligence, know your IQ Score Try Now Undo The previous govt had announced a fully state-funded project worth more than Rs 5,000 crore, intended to connect Biju Patnaik International Airport with Trisulia Square. However, Mahapatra questioned the viability of such a route. "Why would people travel from the airport to Trisulia Square?" he asked. An inter-ministerial committee meeting on the new plan has already taken place, with a second review scheduled. "Once the committee meets and finalises, the next steps will be determined. It cannot proceed without the Centre's assistance," Mahapatra added.
&w=3840&q=100)
Business Standard
4 hours ago
- Business Standard
India, UK firms upbeat on FTA to double trade to $112 bn by 2030: Goyal
Commerce and Industry Minister Piyush Goyal has said that businesses in Britain as well as India are optimistic about the free trade agreement which aims to double the bilateral trade to USD 112 billion by 2030. The India-UK free trade agreement, also called Comprehensive Economic and Trade Agreement (CETA), was signed by Goyal and his counterpart Jonathan Reynolds in presence of Prime Minister Narendra Modi and British Prime Minister Keir Starmer on Thursday. In a post-signing interaction with business leaders from across sectors, Goyal said," Investors are looking to double down on their investments. People in industry and manufacturing are looking to expand markets. The services sector is excited about the growth potential. Everybody, whether from government or from the private sector, has a shared commitment to double the trade between the two countries by 2030." Anuj Chande, Partner at Grant Thornton UK and Head of its South Asia Business Group said," It (the deal) certainly comes across as a win-win for both countries with a huge reduction in tariffs is the beginning of the journey and not the end. Kishore Jayaraman, India Chair of the UK India Business Council (UKIBC), which facilitates trade between both countries, said the tariffs have been brought down to acceptable levels for both nations, so that the trade and economy can grow without any bottlenecks. "But beyond that, it is a recognition that there are so many sectors, digital, tech, defence, life sciences, agriculture, where there are products and services that both nations have that can be brought to the people of both these nations at a much faster pace," he added. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
&w=3840&q=100)
Business Standard
4 hours ago
- Business Standard
No retrospective change in I-T Bill, only simplification: Baijayant Panda
The old law had become so complicated that even experts couldn't give the clear answer, says Panda premium Monika Yadav New Delhi Listen to This Article The new Income-Tax Bill does not override the intent of the Income Tax Act, 1961, but simplifies its language and structure, says Lok Sabha Member Baijayant Panda, who chaired the 31-member select committee to review its draft. In an interview with Monika Yadav, Panda says with the rising number of filings, resources need to be scaled up. Edited excerpts: Do you believe the Bill has been simplified enough to significantly reduce tax disputes and litigation? This is the first step towards simplification. The law has become complicated. It is 64 years old and has undergone more than 4,000 amendments, resulting
