Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution and Textiles, Piyush Goyal encouraged industry’s constructive feedback and collaborative engagement to shape the policies, procedures and effectiveness of the Production Linked Incentive (PLI) scheme.

While delivering a keynote address at the PLI Perspectives: A Stakeholder Meeting’ organized by the Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry yesterday at Bharat Mandapam, New Delhi, he applauded the efforts of all the PLI beneficiaries for driving the vision of the Prime Minister, Shri Narendra Modi, to make India a global hub for manufacturing.

Goyal urged the industry champions to intensify their focus on enhancing competitiveness within their respective sectors, fostering a business environment that stimulates innovation, efficiency, and adaptability. He also emphasized on the importance of the industry’s concentration on prioritizing production of high-quality goods which is aligned with the broader objective of the PLI Scheme, ensuring that the benefits extend to both businesses and consumers.

Goyal further highlighted the imperative of cooperative collaboration where beneficiary companies were urged to work hand-in-hand with the government and fellow stakeholders, creating a collaborative ecosystem for sustainable growth. The Minister further added that the Government Officials of the implementing Ministry/ Department must hold regular consultation and roundtables with their respective PLI beneficiary.

Overall achievement of PLI Schemes was also discussed during the meeting. Actual investment of Rs. 1.07 lakh crore have been realized (till December’23) which has resulted in production/ sales worth Rs. 8.70 lakh crore and employment generation of around 7 lakhs (direct & indirect). Exports have exceeded Rs. 3.40 lakh crore, with substantial contribution from key sectors such as electronics, pharmaceuticals & food processing. Incentive amount of around Rs. 4,415 crore disbursed under PLI Scheme for 8 sectors.

Around 1200 delegates, from beneficiary companies under PLI Scheme for 14 sectors, including the Gem & Jewellery Industry- came together to discuss and chart out the strategy for effective and seamless implementation of PLI Schemes