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.

Denne historien er fra February 18, 2024-utgaven av Business Today India.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra February 18, 2024-utgaven av Business Today India.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA BUSINESS TODAY INDIASe alt
"Moving to cloud helped us grow❞
Business Today India

"Moving to cloud helped us grow❞

What was the problem you were grappling with?

time-read
1 min  |
November 24, 2024
She's Got Time
Business Today India

She's Got Time

MORE WOMEN ARE BECOMING WATCH CONNOISSEURS, SEEKING OUT BOTH JEWELLED AND TECHNICAL WATCHES FOR THEIR STYLE AND CRAFTSMANSHIP

time-read
3 mins  |
November 24, 2024
RISING STAR
Business Today India

RISING STAR

PARUL GULATI IS a name that's been steadily gaining prominence in the Indian entertainment industry after she appeared on season 2 of Shark Tank in 2023. She has become a multifaceted personality who effortlessly transitions between acting and entrepreneurship.

time-read
1 min  |
November 24, 2024
Building on a Legacy
Business Today India

Building on a Legacy

WHEN ZAHABIYA KHORAKIWALA stepped into her role as Managing Director of Wockhardt Hospitals over a decade ago, she confronted formidable challenges that have since turned into achievements.

time-read
1 min  |
November 24, 2024
LEADER IN INNOVATION
Business Today India

LEADER IN INNOVATION

AS FEDEX'S PRESIDENT (Middle East, Indian subcontinent and Africa), Kami Viswanathan has a lot on her plate.

time-read
1 min  |
November 24, 2024
WAITING IN THE WINGS
Business Today India

WAITING IN THE WINGS

Here are those who missed out as they have not yet completed a year in office; they'll be strong contenders in 2025

time-read
1 min  |
November 24, 2024
A DECENT PROPOSAL
Business Today India

A DECENT PROPOSAL

IN TODAY'S WORLD OF TRYING TO CREATE AN EQUITABLE SPACE, BOTH MEN AND WOMEN CONTRIBUTE TO THEIR HOUSEHOLDS. WOMEN ARE ENCOURAGED TO HAVE THEIR OWN SAVINGS POOL AND INVESTMENT ROUTINE. GIVEN THIS, HOW SHOULD FUTURE BRIDES APPROACH FINANCIAL PLANNING?

time-read
5 mins  |
November 24, 2024
Women and the STEM Bias
Business Today India

Women and the STEM Bias

EMPOWERING WOMEN IN STEM WILL NOT ONLY BENEFIT INDIVIDUALS, BUT ALSO STRENGTHEN THE ENTIRE INDUSTRY, DRIVING INNOVATION AND PROGRESS.

time-read
3 mins  |
November 24, 2024
ROCKET WOMEN
Business Today India

ROCKET WOMEN

WOMEN IN INDIA ARE NOT ONLY VENTURING INTO SPACE BUT ARE ALSO STARTING TO SPEARHEAD THE COUNTRY'S EFFORTS IN THE GLOBAL SPACE RACE.

time-read
6 mins  |
November 24, 2024
ONE STEP FORWARD
Business Today India

ONE STEP FORWARD

THE NUMBER OF WOMEN INDEPENDENT DIRECTORS IS GROWING STEADILY, BUT IT'S A LONG WAY FROM GENDER PARITY. MUCH MORE NEEDS TO BE DONE TO BREAK THE GLASS CEILING IN BOARDROOMS.

time-read
6 mins  |
November 24, 2024