From reaching Rs 1.46 lakh crore in investment under the product-linked incentive (PLI) scheme to 26 per cent growth in FDI inflows (year-on-year) in Q1 this fiscal (FY25), the Department for Promotion of Industry and Internal Trade said on Friday that it has played a pivotal role in 2024 in building a self-reliant and globally competitive India.
While the PLI scheme saw Rs 12.5 lakh crore in production, Rs 4 lakh crore in exports and generating 9.5 lakh jobs, over 1,300 manufacturing units were established across 14 sectors and 27 states/UTs under the scheme this year.
The year saw 12 greenfield infrastructure projects worth Rs 28,602 crore, unlocking Rs 1.5 lakh crore investment potential and 9.4 lakh potential jobs under the National Industrial Corridor Development Project, informed DPIIT.
The Network Planning Group held 81 meetings and appraised 213 projects this year, whose project cost is valued at Rs 15.48 lakh crore. So far, more than 200 projects that would help better the logistics infrastructure, costing around Rs 5,496 crore, have been cleared by the states.
Meanwhile, the FDI equity inflow in the manufacturing sector surged by 69% compared with the previous period: up from $98 billion from 2004 to 2014 to $165 billion from 2014 to 2024.
About 1.49 lakh startups created 16 lakh direct jobs and 48 per cent of startups now have at least one woman director, while 50 per cent of startups are now based out of tier 2 and 3 cities, DPIIT said.
The PLI scheme would have a cascading impact on the entire ecosystem of MSME in this country. The anchor units built along the entire value chain under it would necessitate establishing the new supplier base from such units. And large percentages of those ancillary units would come to the MSME sector itself.".
Post the launching of 'Make in India' in September 2014, government has closely been working on 24 subsectors, which were based on strength and competitive advantages of Indian industries, which also considers the necessity for import substitution, export potential and increased employment.
Patents granted in 2023-24 increased by 17 folds in (1,03,057) as compared to 2014-15. Trademark registrations increased seven times in 2023-24 as compared to 2014-15.
Number of Geographical Indications (GI) registered also increased to 635 in 2023-24. India’s rank in Global Innovation Index (GII) increased to 39th position this year.
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