Cabinet approves PLI schemes for IT and Pharma manufacturing

By OEM Update Editorial February 26, 2021 1:51 pm IST

The union cabinet approves Production Linked Incentive (PLI) scheme with a quantum of  ₹15,000 crores for IT and Pharma sectors.

The total quantum of incentive under the scheme is about ₹15,000 crores. The PLI scheme for pharmaceuticals is expected to promote the production of high value products in India with increased value addition to exports. Total increment exports of ₹1,96,000 crore and incremental sales of ₹2,94,000 crore is estimated during six years from 2022-23 to 2027-28. The scheme is expected to generate employment for both skilled and unskilled personnel, estimated at 20,000 direct and 80,000 indirect jobs.

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