Govt disburses INR 77.4 bln to electronics sector under PLI schemes till Nov
This story was originally published at 18:16 IST on 10 December 2024
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NEW DELHI – The government has disbursed INR 77.38 billion under the two Production Linked Incentive Schemes in the electronics manufacturing sector till November since the inception of the schemes, Minister of State for Commerce Jitin Prasada said Tuesday. The government had launched PLI schemes for large scale electronics and Information Technology hardware in 2020-21 (Apr-Mar).
In FY22, the Union Cabinet had approved an outlay of INR 1.97 trillion for PLI schemes in 14 sectors, out of which, the electronics sector has been allocated INR 556.45 billion for five years. The government aims to boost India's manufacturing capacity and export potential through the PLI schemes.
The PLI schemes have been most successful in the electronics sector itself with maximum disbursement. After the launch of the scheme, India's electronic goods manufacturing jumped 78.4% and their exports grew over two-folds in FY24 from FY20, Prasada told the Lok Sabha in a written reply. End
Reported by Krity Ambey
Edited by Akul Nishant Akhoury
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