Big Win For Electronics, Pharma As They Get 70 Per Cent Of PLI Incentives
In 2024-25, the government has disbursed a total of Rs 10,114 crore. PLI firms in the electronics sector received Rs 5,732 crore, while pharmaceutical drugs received Rs 2,328 crore, the data showed.
Large-scale electronics manufacturing and pharmaceuticals cornered about 70 per cent of the total fiscal incentive disbursements in 2024-25 under the production-linked incentive (PLI) schemes, according to government data.
The scheme was introduced in 2021 to support domestic manufacturing across 14 sectors with an outlay of Rs 1.97 lakh crore.
In 2024-25, the government has disbursed a total of Rs 10,114 crore. PLI firms in the electronics sector received Rs 5,732 crore, while pharmaceutical drugs received Rs 2,328 crore, the data showed.
In 2023-24, the disbursals stood at Rs 9,721 crore.
The figures highlight the country's growing strength in these segments amid efforts to boost manufacturing and value-added exports.
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Besides these two, the other sectors that received these incentives in the last fiscal include bulk drugs (Rs 22 crore), Medical Devices (Rs 77 crore), Telecom (Rs 840 crore), Food Processing (Rs 448 crore), White Goods (Rs 210 crore), Automobiles (Rs 322 crore), Specialty Steel (Rs 48 crore), Textiles (Rs 40 crore) and Drones (Rs 35 crore).
The PLI in the electronics sector have helped significantly boost domestic manufacturing and exports. Now, this sector is included in the top three product categories that India exports globally.
The country's electronic goods shipment saw the highest export growth rate at 32.46 per cent, jumping from USD 29.12 billion in 2023-24 to USD 38.58 billion in the last fiscal year. It was USD 23.6 billion in 2022-23 and USD 15.7 billion in 2021-22.
Within this, computer hardware and peripherals, which form 3.8 per cent of the sector, saw 101 per cent growth, doubling from USD 0.7 billion to USD 1.4 billion in 2024-25.
The main destinations for electronic goods were the UAE, the US, the Netherlands, the UK, and Italy.
According to the data, Indian drugs and pharmaceuticals are reaching over 200 countries now. These exports increased by about 10 per cent to USD 30.5 billion in 2024-25.
(This report has been published as part of the auto- generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
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