Rs 1.06-trn inflows into PLI-led units
Pharma, solar modules accounting for half of total investments till Dec 2023
New Delhi: Production-linked incentive (PLI) schemes for 14 sectors have attracted over Rs1.06 lakh crore investments till December 2023 with pharma and solar modules accounting for nearly half of the total, according to government data.
The response to the schemes was tepid in sectors like IT hardware, auto, and auto components, textiles, and ACC battery storage till December last year. The government in 2021 announced PLI schemes for 14 sectors such as telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma with an outlay of Rs1.97 lakh crore.
According to the data, pharmaceuticals and drugs sector attracted Rs25,813 crore till December last year, exceeding the expected investments of Rs17,275 crore. The major beneficiaries in this sector include Dr Reddy’s Laboratories, Cipla, Glenmark Pharma, Biocon and Wockhardt Ltd. As regards the high efficiency solar PV modules, the total investment was Rs22,904 crore as against the expected investment of Rs1.10 lakh crore.
