PLI'S LONG MARCH
Business Today India|February 18, 2024
The production-linked incentive scheme has faced major challenges. But it has come out unscathed and is changing India's manufacturing space for the better
ARNAB DUTTA
PLI'S LONG MARCH

APRIL IS A cruel month. It was, perhaps, at its cruellest in 2020 when the country went under a national lockdown, and the Covid-19 pandemic swept over the Indian hinterlands like a storm. But even as this was going on, the Indian government came up with a scheme that contained within it the kernel that could potentially transform the country into a global manufacturing hub. Called Production Linked Incentive, or PLI, the scheme since its inception has navigated itself through some choppy waters—from regulatory hurdles to coordinating stakeholders across numerous sectors. But one glance through the complexity of the scheme, which involved seamless collaboration among multiple ministries, government departments, private enterprises, local authorities, and state governments, and it is not surprising that it encountered roadblocks. What is remarkable is that despite these challenges, the scheme has proved to be resilient and nearly three and a half years after the initial approval of proposals in October 2020, the scheme has emerged as a significant reason behind the growth of India’s manufacturing sector.

Consider the mobile handsets industry, where the PLI scheme played a pivotal role. This sector has now emerged as a significant beneficiary, and the numbers speak for themselves. Since its inception, the value of locally-produced mobile handsets has seen a remarkable rise, soaring from ₹2.2 lakh crore in FY21 to an impressive ₹3.5 lakh crore in FY23. Meanwhile, exports from India have witnessed a fourfold increase, surging from ₹22,868 crore in FY21 to a substantial ₹90,000 crore in FY23.

هذه القصة مأخوذة من طبعة February 18, 2024 من Business Today India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة February 18, 2024 من Business Today India.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من BUSINESS TODAY INDIA مشاهدة الكل
The EV Craze
Business Today India

The EV Craze

The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly

time-read
5 mins  |
November 10, 2024
The Storage Boom
Business Today India

The Storage Boom

Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?

time-read
8 mins  |
November 10, 2024
India Beckons
Business Today India

India Beckons

Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before

time-read
4 mins  |
November 10, 2024
The Pearls of The Sea
Business Today India

The Pearls of The Sea

Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it

time-read
4 mins  |
November 10, 2024
66.Brand persona should define the core"
Business Today India

66.Brand persona should define the core"

I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.

time-read
1 min  |
November 10, 2024
Unwind in Style
Business Today India

Unwind in Style

Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury

time-read
3 mins  |
November 10, 2024
A Lifelong Affair with Inspiration
Business Today India

A Lifelong Affair with Inspiration

In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art

time-read
3 mins  |
November 10, 2024
Make it Bubbly
Business Today India

Make it Bubbly

Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles

time-read
4 mins  |
November 10, 2024
Palatial Splendour
Business Today India

Palatial Splendour

Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers

time-read
7 mins  |
November 10, 2024
Of Beaches and Cream
Business Today India

Of Beaches and Cream

GianChand Single Malt Whisky

time-read
1 min  |
November 10, 2024