What is the PLI scheme, know why this scheme is necessary to make India self-reliant

In this article we will know that the Government of India PLI Scheme What is? And under this, how is the initiative being run to make the country self-reliant in various manufacturing sectors –

What is the full form of PLI scheme?

Let us tell you that the full name of the PLI scheme of the Government of India is Production Linked Incentive Scheme. under this scheme Government of India gives incentive incentives to companies to better produce and export in various manufacturing sectors like Mobile, Telecom, IT Hardware, Pharmaceutical in India. It started in March 2020.

PLI Scheme

The Modi government has started this scheme under the self-reliant India campaign with the goal of making India a global manufacturing hub. production incentive scheme The benefit of the scheme will be given not only to the companies of India but also to the foreign companies investing here.

Special features of PLI scheme –

  • The Modi government will spend Rs 1.46 lakh crore in the coming 5 to 7 years under this scheme.
  • The main focus of this scheme will be in automobile, food processing, pharma, advanced chemistry and solar energy sectors.
  • Production Linked Incentive Scheme has been implemented to promote domestic productive capacity in India.
  • The objective of this scheme is to attract foreign companies to invest in India.

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Budget of PLI Scheme –

Automobiles & Auto Components Rs 57,000 crore
pharma and drug sector 15 thousand crore rupees
Telecom Network and Infrastructure Rs 12,000 crore
Textile and Food Products Sector Rs 10,000 crore
Solar Photovoltaic Sector Rs 4500 crore
Textile Sector Rs 6300 crore
electronic and technology products 5000 crores
specialty steel 6000 crores
Battery Manufacturing Rs 18100 crore

View Official Press Release of PIB India see

How does production linked incentive scheme work?

Production Linked Incentive Scheme has now been started for four manufacturing sectors. Whose information is given below –

Production Linked Incentive Scheme for Mobiles Manufacturing

To make India a global hub for mobile hardware and software manufacturing, the PLI scheme has been implemented in 2020 itself. The companies which produce in India will do well in exporting the goods. Government of India will provide them incentives.

Production Linked Incentive Scheme for Telecom Equipment Manufacturing

On 17 February 2021, the PLI scheme has been launched for brands manufacturing telecom and networking related goods. Under this, a budget of Rs 12195 crore has been passed by the Union Cabinet. Due to this, there is a possibility of investment of 3 thousand crore rupees in the country. Due to which many people will get employment.

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Production Linked Incentive Scheme for IT- Hardware Manufacturing

On 24 February 2021, Law and Justice Minister Ravi Shankar Prasad launched the Production Linked Incentive Scheme for companies manufacturing IT hardware such as tablets, laptops, all-in-one PCs and servers. Under this, a budget of Rs 7,350 crore has been presented. With this scheme, where 3 thousand crore rupees on tablets and 30 thousand crore rupees on laptops will be fulfilled annually, about 2 lakh people will also get direct employment.

Production Linked Incentive Scheme for Pharmaceutical industry

To make India self-reliant and exporter in the production of medicines, the PLI scheme has also been started for drugs and pharmaceutical companies. Under this, a provision has been made to give an incentive of Rs 15,000 crore.

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