Tamil Nadu Tops the PLI Scheme Benefits, Asserts FM Sitharaman
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Synopsis
Union Finance Minister Nirmala Sitharaman announced that Tamil Nadu has become the leading beneficiary of the Production-Linked Incentive (PLI) scheme, securing key projects in electronics and automobile sectors, with substantial funding allocated for development.
Key Takeaways
- Tamil Nadu is the largest beneficiary of the PLI scheme.
- Over 25% of PLI project approvals are for Tamil Nadu.
- Significant investments in electronics and automobile sectors.
- Two electronic parts manufacturing clusters announced.
- Rs 7,453 crore allocated for wind energy projects.
Chennai, March 23 (NationPress) Union Finance Minister Nirmala Sitharaman has stated that Tamil Nadu has become one of the foremost beneficiaries of the Production-Linked Incentive (PLI) scheme.
The state has secured a substantial portion of projects in the electronics and automobile sectors.
During an event hosted by the Chennai Citizens' Forum, FM Sitharaman refuted allegations that the Central government had neglected Tamil Nadu in terms of financial support.
She remarked that numerous significant projects had been announced and are advancing through various stages throughout the state.
"Tamil Nadu has been the largest beneficiary under the PLI scheme in electronics, electronic components, and automobiles," FM Sitharaman emphasized.
The Union Minister of Finance and Corporate Affairs pointed out that Tamil Nadu has obtained the highest number of approvals under the PLI scheme for electronics, electronic components, and automobiles.
The Union Minister indicated, "Out of the 27 companies that have received approval from the Centre, seven are located in Tamil Nadu."
According to FM Sitharaman, approximately 25 percent of the companies benefiting from the PLI scheme are situated in the state.
The Finance Minister also highlighted that Tamil Nadu houses one of India’s two prominent electronic parts manufacturing clusters, with the other located in Gujarat.
To bolster this sector, the Centre has earmarked Rs 1,100 crore for the establishment of the cluster in Tamil Nadu.
Recently, Union Minister for Electronics and Information Technology Ashwini Vaishnaw visited Zetwerk near Chennai and declared that two electronic parts manufacturing clusters worth Rs 1,112 crore would be developed in the vicinity.
FM Sitharaman further mentioned that Tamil Nadu is the second-largest recipient of PLI incentives for automobile and auto component manufacturing.
"Out of 82 approved applications under this scheme for the automobile sector, 46 come from Tamil Nadu. The state has also received approvals for four companies under the PLI scheme for advanced chemistry cell battery manufacturing," FM Sitharaman noted.
Furthermore, the Centre has allocated Rs 7,453 crore through the Viability Gap Funding Scheme for offshore wind energy projects in Tamil Nadu and Gujarat.
"The country’s first Green Hydrogen Hub Port is being planned at Tuticorin with the Centre’s backing," FM Sitharaman added.
Discussing infrastructure enhancements in the state, she stated that around 1,303 kilometres of new railway lines have been introduced in Tamil Nadu.
