Union minister Piyush Goyal on Wednesday said that India must focus on the sectors in which it has competitive edge over other countries and address the problems faced by the various stakeholders so that country’s exports can grow.
Presiding over the review meeting on Production Linked Incentive Scheme, he stressed on preparing a roadmap for the next five years both on investment and disbursement.
The minister urged the need for becoming self-reliant in the key sectors covered under the PLI Scheme. He emphasized that the ministries should focus on creating quality skilled manpower instead of focusing on the quantity and resolve infrastructure bottlenecks in collaboration with NICDC.
The PLI Scheme is under various stages of implementation in 14 key sectors. The scheme has witnessed investments worth Rs 1.76 lakh crores, which has generated production and sales of over Rs 16.5 lakh crore and employment of over 12 lakhs till March 2025.
“Cumulative incentive amount of Rs 21,534 crore has been disbursed under PLI Schemes for 12 Sectors viz. Large-Scale Electronics Manufacturing (LSEM), IT Hardware, Bulk Drugs, Medical Devices, Pharmaceuticals, Telecom & Networking Products, Food Processing, White Goods, Automobiles & Auto components, Specialty Steel, Textiles and Drones & Drone Components,” the ministry stated.
According to the statement, these schemes have incentivized domestic manufacturing, leading to increased production, job creation and a boost in exports.
The pharmaceutical sector has witnessed cumulative sales of Rs 2.66 lakh crore which includes exports of Rs 1.70 lakh crore achieved in the first three years of the scheme.
PLI Scheme for food products has reported investments worth Rs 9,032 crore which has resulted in production and sales of Rs 3,80,350 crores and employment of 3,40,116.
Under the PLI scheme, a significant proportion of beneficiaries are MSMEs, with 70 MSMEs directly enrolled and 40 others contributing as contract manufacturers for larger companies. This has strengthened SMEs by fostering innovation, improving competitiveness, expanding market access, generating employment opportunities, and supporting the broader value chain in the food processing industry.
Meanwhile, exports of Indian Man-made Fibre (MMF) Textiles have reached USD 6 Billion during FY 2024-25 as against exports of USD 5.7 Billion. during the FY 2023-24. The overall exports of Technical Textiles from India reached USD 3,356.5 million during FY 2024-25 as against exports of USD 2,986.6 million during FY 2023-24.
