New Delhi, March 27 (NationPress) India's Production Linked Incentive (PLI) schemes have successfully attracted investments surpassing Rs. 2.16 lakh crore. This has led to an impressive increase in production and sales, totaling over Rs. 20.41 lakh crore, while creating more than 14.39 lakh direct and indirect jobs across 14 sectors, as reported by the government on Friday.

The approval of 836 applications under the PLI framework has significantly bolstered domestic manufacturing capabilities, enhanced export potential, and decreased import reliance in key sectors, according to MoS, Ministry of Commerce & Industry, Jitin Prasada, during discussions in the Rajya Sabha.

Investment levels jumped from Rs. 0.51 lakh crore up to FY 2022-23 to Rs. 2.16 lakh crore projected by FY26. Similarly, production under the PLI schemes surged from Rs. 4.50 lakh crore to Rs. 20.41 lakh crore during this timeframe. Employment growth under these initiatives escalated from 3 lakh to 14.39 lakh, as stated by the Ministry of Commerce & Industry.

The 'Make in India' initiative, introduced in September 2014, aims to facilitate investment, promote innovation, and establish top-notch infrastructure, making India a manufacturing, design, and innovation hub. The updated Make in India 2.0 initiative concentrates on 27 sectors, including 15 manufacturing sectors.

As part of this endeavor, the PLI schemes have been rolled out across 14 vital sectors, which include large-scale electronics manufacturing, IT hardware, pharmaceuticals, bulk drugs, medical devices, automobiles and auto components, advanced chemistry cell batteries, telecom & networking products, food processing, textiles, specialty steel, and white goods.

Under the National Industrial Corridor Development Programme (NICDP), various greenfield industrial zones are being established throughout India to develop globally competitive manufacturing and investment hubs. To date, approximately 20 projects under the NICDP have received approval, as noted in the statement.

The Employment Linked Incentive (ELI) Scheme has been introduced to bolster job creation, improve employability, and enhance social security across all sectors, with a special emphasis on manufacturing. This scheme has a budget of Rs 99,446 Crore aimed at generating over 3.5 crore jobs within a two-year period.

Furthermore, the ministry highlighted the PM Internship Scheme, designed to cultivate industry-relevant skills, enhance job readiness, and provide professional exposure through structured internships in India's leading companies and institutions.

In the pilot phase, over 4.5 lakh candidates applied across two rounds, and partner companies extended more than 1.60 lakh internship offers to over 1.3 lakh candidates.

aar/pk