Piyush Meets 141 CEO
of PLI Beneficiaries, Urges Promotion of Brand India
·
Goyal
Interacted with CEOs of PLI Beneficiary Companies as part of Make in India
Campaign
·
Goyal
Lauded PLI Beneficiaries for bringing Innovation, making India Self-reliant in
Vital Sectors and Generating Employment
·
PLI
Scheme has been a Great Success in terms of Attracting Investments and
Increasing Exports
Marking
a decade of the transformative “Make in India” initiative, Minister of Commerce
and Industry, Piyush Goyal, on 29 September, 2024 urged the Indian industry to focus
on prioritizing the production of high-quality goods to promote Brand India through
sustainable practices in line with Prime Minister’s vision of Make in India with
“Zero Effect; Zero Defect”.
Mr.
Goyal said this while engaging with the CEOs of over 140 PLI beneficiary companies
in an interactive session, celebrating their achievements under the Production Linked
Incentive (PLI) Scheme.
Addressing
the gathering, Mr. Piyush Goyal applauded the efforts of PLI beneficiary companies
which have been instrumental in driving growth across vital sectors, creating jobs,
and positioning India as a global leader in manufacturing. Mr. Goyal also expressed
gratitude to global champions for their dedication, significant investment in producing
innovative products and contribution in generating employment through the PLI Schemes.
Mr.
Goyal further urged CEOs to focus on increasing domestic value addition in their
products to make India self-reliant. He also urged the industry to support domestic
manufacturers in this regard.
During
the three hour long interaction, CEOs of beneficiary companies
shared their perspectives on the PLI Schemes, offering valuable insights into their
experiences, success stories, and suggestions for improving the schemes’ effectiveness
and streamlining implementation. The discussion provided a productive platform for
open communication between industry stakeholders and the Government. He also sought
feedback from industry leaders on decriminalization/ liberalization of laws to promote
ease of doing business.
Mr.
Goyal encouraged continued dialogue between industry leaders and the government
through implementing Ministries/ Departments & respective PMAs in coordination
with DPIIT, emphasizing the importance of policy support and creating an enabling
environment for future growth. He mentioned that the industry stakeholders may approach
Invest India, National Investment Promotion and Facilitation Agency, to facilitate
technology transfer & foreign collaborations.
Mr.
Goyal thanked global champions for their hard work, massive investment & generating
employment under PLI Schemes. He further stated that the Government is committed
in fast tracking all the necessary approvals related to PLI industry and also providing
handholding support in achieving greater market access.
Senior
officials from implementing Ministries/ Departments and Project Management Agencies
(PMAs) were also present. The interaction focused on the tangible outcomes delivered
by PLI Scheme across 14 sectors, which has led to a manufacturing surge and transcended
India’s global competitiveness.
Mann
ki Baat
As
a part of the interaction, all the participants tuned in to the 114th edition of
Prime Minister’s Mann ki Baat broadcast wherein Hon’ble
Prime Minister reflected on how “Make in India” campaign has contributed in making
India a manufacturing powerhouse resulting in increased exports in electronics,
defence, textiles, aviation, automobiles among other sectors along with continuous
rise in Foreign Direct Investment (FDI). Hon’ble Prime Minister emphasized that
the country is now focussing on “Quality: Products of Global Standards” and “Vocal
for Local: Promotion of Local Products”.
PLI
Impact
Overall
achievement of PLI Schemes was also discussed during the meeting. Actual investment
of Rs. 1.46 lakh crore has been realized (till August’24) and is likely to reach
Rs. 2 lakh crore in the next year or so. This has resulted
in production/ sales worth Rs. 12.50 lakh crore and employment generation of around
9.5 lakhs (direct & indirect) which is expected to reach 12 lakhs soon. Exports
have exceeded Rs. 4 lakh crore, with substantial contribution
from key sectors such as electronics, pharmaceuticals & food processing.
In
the electronics sector, mobile phone manufacturing now accounts for half of India's
total output, with a 3x increase in exports since FY 2020-21. The pharmaceutical
industry has revitalized domestic production of bulk drugs and complex generics,
reducing import dependence. In the automobile sector, global champions have rolled
out electric vehicles, with substantial investment in the country. The medical devices
industry has seen technology transfers for critical equipment like CT scanners,
fostering local production. Similarly, the food processing sector contributed to
sustainable agricultural practices and production of millet and organic products.
Emerging sectors like drones have experienced a sevenfold increase in turnover,
driven by MSEMs & Startups. Solar PV Module and specialty
steel industries are also witnessing robust growth, with significant investments
and localized production.