2023-04-26 13:30:27
PLI schemes for 14 sectors were announced during the Covid pandemic in 2020 with an outlay of Rs 1.97 lakh crore to boost domestic manufacturing and exports.
“When the schemes were announced, there was no war (Russia-Ukraine). No investments have been derailed but we expect to get back on track in 2023-24,” said Rajeev Singh Thakur, additional secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), adding that these eight sectors are doing well while few need to increase their pace.
Thakur said that incentive claims of over Rs 3,420.05 crore have been received under the scheme for eight sectors – large-scale electronics manufacturing; electronics and technology products; bulk drugs; medical devices; pharmaceuticals; telecom and networking products; food items; and drones, of which “over Rs 2,800 crore have already been disbursed”.
On the disbursement, he said: “It is neither great nor bad.. it is mixed kind of thing.”
“The next two-three years will be crucial and we hope things to move at a fast pace,” he said, adding that there is no structural fault in the schemes but not all are going ahead at the same pace as was envisioned.
“Therefore, more stakeholder consultations are needed… wherever required, Niti Aayog and the empowered group of secretaries will look at procedural lapses,” he said. Cabinet Secretariat might do a “stronger review”.As per the department, till December 2022, 717 applications have been approved in 14 sectors with expected investments of Rs 2.74 lakh crore. Actual investment of Rs 53,500 crore has been realised, which has resulted in incremental production/sales of over Rs 5 lakh crore and employment generation of over 3 lakhs.
The highest disbursal- of Rs 1,649 crore- was made in large scale electronics manufacturing, followed by pharmaceuticals drugs at Rs 652 crore, and food products at Rs 486 crore.
Apple manufacturing in India gave a push to electronics while there are some specific issues in the textile PLI.
When asked regarding plans to include more sectors under the scheme, he said that demands are coming from different industries but no decision has been taken yet.
“No decision has been taken on whether new PLIs will be given and when,” he said.
White goods, advanced chemistry cells, auto components and textiles are among other sectors where PLI benefits are being given.
“We expect that in the next 2-3 years, things will move at a healthy rate,” he added.
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