NEW DELHI: From achieving Rs 1.46 lakh crore in investment under the product-linked incentive (PLI) scheme to 26 per cent increase in FDI inflows (year-on-year) in Q1 this fiscal (FY25), the Department for Promotion of Industry and Internal Trade (DPIIT) said on Friday that it has played a pivotal role in 2024 in building a self-reliant and globally competitive India.
While 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 conducted 81 meetings, evaluating 213 projects with a project cost of Rs 15.48 lakh crore this year. Over 200 projects aimed at improving logistics infrastructure, worth Rs 5,496 crore, have been recommended by the states.
In the meantime, FDI equity inflow in the manufacturing sector increased by 69 per cent, rising from $98 billion in 2004-2014 to $165 billion in 2014-2024.
About 1.49 lakh startups created 16 lakh direct jobs and 48 per cent startups now have at least one woman director, while 50 per cent startups are now based out of tier 2 and 3 cities, the DPIIT noted.
“The PLI scheme is going to have a cascading effect on the country’s MSME ecosystem. The anchor units that will be built in every sector will require a new supplier base in the entire value chain. Most of these ancillary units will be built in the MSME sector,” said the government.
Post-launch of the ‘Make in India’ initiative in September 2014, the government has been working closely on 24 sub-sectors chosen based on Indian industries' strengths and competitive edge, the need for import substitution, potential for export, and increased employability.
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.