PLI Scheme: The Road Ahead
The PLI scheme is a cornerstone of India’s strategy to attract investments in key sectors, enhance manufacturing efficiency, and achieve economies of scale. By fostering global competitiveness, the scheme is expected to significantly boost production, employment, and economic growth in the coming years. With a focus on cutting-edge technology and high-value manufacturing, PLI is laying the foundation for a robust industrial ecosystem, positioning India as a major global manufacturing hub.
Also read Scheme for Strengthening Medical Device Industry (SMDI): Unlocking India’s Healthcare Potential
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Key Achievements of the PLI Scheme
- Investment: ₹1.61 lakh crore (US$ 18.72 billion)
- Production/Sales: ₹14 lakh crore (US$ 162.84 billion)
- Exports: ₹5.31 lakh crore (US$ 61.76 billion)
- Employment Generated: Over 11.5 lakh jobs (direct & indirect)
- Approved Applications: 764 across 14 sectors, including 176 MSME beneficiaries
Sector-Wise Impact
1. Transforming India’s Export Basket
PLI has shifted India’s exports from traditional commodities to high-value-added products such as electronics, telecom equipment, and processed food. Sectors like large-scale electronics manufacturing, pharmaceuticals, food processing, and telecom have made significant contributions to exports.
2. Strengthening Domestic Manufacturing & Global Value Chains
- Medical Devices: 19 green-field projects have started production of 44 advanced medical devices, including MRI machines and CT scans, reducing import dependency.
- White Goods (ACs & LED Lights): 84 companies are investing ₹10,478 crore, enhancing local manufacturing of key components like compressors and LED chip packaging.
- Telecom & Networking: India has achieved 60% import substitution in telecom products, becoming a major exporter of 4G and 5G equipment.
3. Boosting MSMEs & Startups
- Drone Industry: The sector has witnessed a sevenfold turnover increase under the PLI scheme, driving investment, job creation, and positioning India as a global drone manufacturing leader.
- Specialty Steel: Companies have invested ₹20,000 crore out of the committed ₹27,106 crore, creating 9,000 direct jobs. An incentive of ₹48 crore has been released so far, with an estimated ₹2,000 crore to be disbursed by the scheme’s end.
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Incentive Disbursement & Implementation
- Total Incentive Disbursed: ₹14,020 crore across 10 sectors
- Food Processing Industry:
- FY 2022-23: ₹474 crore disbursed
- FY 2023-24: ₹700 crore targeted, on track to be achieved
- The scheme currently has 171 active beneficiaries; six withdrawals were due to unmet investment commitments.
Specialty Steel: The Ministry of Steel is evaluating 35 new proposals, with an additional ₹25,200 crore in investment commitments.
Role of Operon Strategist
Operon Strategist plays a crucial role in supporting medical device manufacturing businesses looking to leverage the PLI scheme. Our expertise in regulatory consulting, compliance, and strategic planning helps companies navigate the complexities of the scheme, maximize incentives, and establish a strong manufacturing base in India. By assisting in documentation, investment planning, and policy adherence, we enable businesses to optimize their production capabilities and contribute to India’s self-reliance in manufacturing.
Operon Strategist delivers complete solutions for obtaining regulatory approvals, including European CE Marking, FDA 510(k), Indian CDSCO Import Registration, SFDA, and UKCA compliance. We also support the establishment of manufacturing facilities by offering services such as facility layout design, cleanroom planning, machine validation, and ensuring facility adherence to global regulatory standards ensuring quality through ISO 13485, FDA QSR, and MDSAP compliance and all regulatory approvals.
