PLI Scheme Set to Attract Rs 2 Lakh Crore Investment: Piyush Goyal

Union Commerce Minister Piyush Goyal announced that the Production Linked Incentive (PLI) scheme is expected to bring in investments worth ₹2 lakh crore, significantly higher than the previous estimate of ₹1.3 lakh crore. This announcement came after Goyal’s interaction with beneficiaries of the PLI scheme, where he expressed optimism about production levels exceeding initial expectations.

Positive Impact on Key Sectors

During the interaction, Goyal noted that sectors benefiting from the PLI schemes are gaining momentum and are now poised to invest independently due to rising demand. “Hearing some of the numbers today, my own sense is that the production would be much more than what we expected,” he stated. The minister highlighted that the PLI scheme has the potential to create approximately 12 lakh direct jobs, in addition to numerous indirect employment opportunities.

Experiences from PLI Beneficiary Companies

Representatives from various PLI beneficiary companies shared their positive experiences following the minister’s address. Jayen Mehta, Managing Director of Amul, revealed that the company committed an investment of around ₹800 crore under the PLI scheme, expressing gratitude for the inclusion of the food processing sector in the initiative.

Shail Singh Solanki, Senior General Manager of Meril Life Sciences, noted that the PLI scheme has enabled his company to expand its global footprint. Dr. Rajiv Chhibber, Vice President of Sahajanand Medical Technologies, discussed the production of four essential medical devices, including cardiac stents and heart valves, which were previously imported. He emphasized their efforts to reduce imports and provide affordable medical solutions to the public.

Government’s Vision for Atmanirbhar Bharat

Launched in 2020 as part of the Atmanirbhar Bharat and Make in India initiatives, the PLI scheme aims to make Indian manufacturers globally competitive, attract significant investments, enhance exports, integrate India into the global supply chain, and reduce dependency on imports. The government has introduced PLI schemes across 14 sectors to drive this vision forward.