Union Minister Ravi Shankar Prasad said that the production linked incentive scheme announced in April for mobile phones and components amidst severe conditions of Kovid-19 gave a production of Rs 35,000 crore, employed 22,500 people and brought about 1,300 investors.
He said that we believe that 10 lakh crore rupees will be produced and about 8 lakh-9 lakh direct and indirect jobs will be created under the PLI scheme in the next 5 years. Through this scheme we focus on bringing global champions in India and making Indian manufacturers national champions.
The production-linked incentive scheme for mobile phones and components which was announced in April during the height of COVID-19 delivered production worth Rs 35,000 crores, created 22,500 jobs & brought around Rs 1,300 investment: Union Minister Ravi Shankar Prasad pic.twitter.com/cI56icDu7s– ANI (@ANI) February 24, 2021
He said that the annual growth rate (CAGR) of electronic manufacturing in the country is 23 percent. He further stated that the Cabinet approved the PLI scheme for pharmaceuticals for the period from FY 2020-21 to 2028-29 to boost production of high value products in the country and increase value addition in exports.