Tuesday, October 14, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Investment

Investments: PLI boosted FDI by 76% in manufacturing sector

Fiinews by Fiinews
June 15, 2023
in Investment
Reading Time: 2 mins read
A A
0
Foxconn
0
SHARES
10
VIEWS
LinkedinShare on Twitter

DPIIT updates on PLI schemes; Rs.2,900cr disbursed in FY 2022-23 to 8 sectors

The Production Linked Incentive (PLI) Schemes have led to a 76% increase in FDI in the Manufacturing sector in FY 2021-22 (US$21.34 billion) compared to previous FY 2020-21 (US$12.09 billion).

Giving this update on the PLI Schemes, DPIIT Secretary Rajesh Kumar Singh told a press conference on 13 June that 733 applications have been approved in 14 sectors with expected investment of Rs.3.65 lakh crore.

He added that 176 MSMEs are among the PLI beneficiaries in sectors such as Bulk Drugs, Medical Devices, Pharma, Telecom, White Goods, Food Processing, Textiles & Drones.

Actual investment of Rs.62,500 crore has been realized till March 2023 which has resulted in incremental production and sales over Rs.6.75 lakh crore and employment generation of around 325,000.

Exports were boosted by Rs.2.56 lakh crore till FY 2022-23.

Incentive amount of around Rs.2,900 crore was disbursed in FY 2022-23 under PLI Schemes for 8 Sectors viz. Large-Scale Electronics Manufacturing (LSEM), IT Hardware, Bulk Drugs, Medical Devices, Pharmaceuticals, Telecom & Networking Products, Food Processing and Drones & Drone Components.

PLI Scheme has led to major smartphone companies shifting its suppliers to India, e.g., Foxconn, Wistron and Pegatron. As a result, top high-end phones are being manufactured in India, he said.

Of the US$101 billion total electronics production in FY 2022-23, smartphones constitute US$44 billion including US$11.1 billion as exports.

Import substitution of 60% has been achieved in the Telecom sector and India has become almost self–reliant in Antennae, GPON (Gigabit Passive Optical Network) & CPE (Customer Premises Equipment), he said.

Drones sector has seen a 7-time jump in turnover due to the PLI Scheme which consists of all MSME Startups.

Under the PLI Scheme for Food Processing, sourcing of raw materials from India has seen significant increase which has positively impacted income of Indian farmers and MSMEs.

Due to the PLI Scheme, there has been a significant reduction in imports of raw materials in the Pharma sector.

Unique intermediate materials and bulk drugs are being manufactured in India including Penicillin-G, and transfer of technology has happened in manufacturing of Medical Devices such as (CT scan, MRI etc.), he said.

PLI Scheme-supported sectors that have seen an increase in FDI inflows from FY 2021-22 to FY 2022-23 are Drugs and Pharmaceuticals (+46%), Food Processing Industries (+26%) and Medical Appliances (+91%).

PLI Schemes have transformed India’s exports basket from traditional commodities to high value-added products such as electronics & telecommunication goods, processed food products etc. Fiinews.com

Tags: DPIIT
ShareTweetShare

Related Posts

SBF
Investment

Invest: SBF to be ASEAN gateway for India

by Fiinews
October 6, 2025
0
36

SEC will unlock opportunities for Singapore-India businesses The Singapore Business Federation (SBF), representing more than 32,000 companies as well as...

SIA Engineering
Investment

Invest: India-Singapore partnership reaffirmed

by Fiinews
October 6, 2025
0
34

Goyal highlights investment opportunities in Singapore Minister of State, Ministry of Trade & Industry Gan Siow Huang has reaffirmed the...

Alorica logo blue.intranet

Invest: Alorica created 1,500 jobs in Bangalore

October 5, 2025
19
Veranda

Invest: SNVA to acquire Veranda of Chennai

October 3, 2025
16
Circor hironisha

Invest: CIRCOR to acquire 2 Indian companies

October 1, 2025
20
Kredit Venture

Invest: Kredit Venture to serve tier 2&3 MSMEs

September 30, 2025
16
SBI YONO
Sabit

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Tech: Infosys gets 15-year contract with NHSBSA
  • Market: Pune to strengthen Orion capabilities
  • Market: Blue Ocean expands supply chain education
  • Tech: Deaken-VIT offer Cyber Security program
  • Project: PM GatiShakti – Offshore for Blue Economy

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.