PLI Scheme Attracted Over Rs 45,000 Crore Investment, Created 3 Lakh Jobs: NITI Aayog CEO

India's production-linked incentive (PLI) scheme, which aims to make domestic manufacturing globally competitive, has attracted investment worth over Rs 45,000 crore and has also created three lakh jobs, NITI Aayog CEO Parameswaran Iyer said on Monday.

The government has rolled out the scheme with an outlay of about Rs 2 lakh crore for as many as 14 sectors, including automobiles and auto components, white goods, pharma, textiles, food products, high efficiency solar PV modules, advanced chemistry cell and speciality steel.

"The PLI programme has already started showing results. About Rs 800 core have already been paid by way of incentives. "We are expecting (incentives) to go close to Rs 3,000 crore to Rs 4,000 core before March," Iyer told PTI. The scheme aims to make domestic manufacturing globally competitive and create global champions in manufacturing, and it is yielding solid results. "The scheme is working. Already about Rs 45,000 crore-plus investment has come in, three lakh jobs have been created and production worth Rs 2 lakh crore is already there," he added.

The scheme, launched in 2020, offers a cash incentive for three to five years on the incremental sale of goods manufactured in India over determined base-year sales.

Additionally, the identified beneficiaries are required to commit to a certain minimum investment in India. Replying to a question on the Centre's National Monetisation Pipeline (NMP) programme, he said asset monetisation plan is doing 'very well now' and it will be taken down to the states.

"(In budget documents) All signals are that the asset monetisation programme, which is actually bringing in private capital, is continuing and now it will be taken down to the states," Iyer said.

(This story has been published from a wire agency feed without any modifications to the text. Only the headline has been changed.)