{"id":230511,"date":"2023-03-10T22:04:06","date_gmt":"2023-03-10T16:34:06","guid":{"rendered":"https:\/\/blog.forumias.com\/?page_id=230511"},"modified":"2023-03-12T10:51:08","modified_gmt":"2023-03-12T05:21:08","slug":"answered-the-production-linked-incentive-pli-scheme-has-been-a-game-changer-for-exports-from-india-substantiate","status":"publish","type":"page","link":"https:\/\/forumias.com\/blog\/answered-the-production-linked-incentive-pli-scheme-has-been-a-game-changer-for-exports-from-india-substantiate\/","title":{"rendered":"[Answered] The Production-linked Incentive (PLI) scheme has been a game changer for exports from India. Substantiate."},"content":{"rendered":"<table>\n<tbody>\n<tr>\n<td width=\"924\"><strong>Introduction:<\/strong> Contextual introduction.<br \/>\n<strong>Body:\u00a0<\/strong>Explain how Production-linked Incentive (PLI) scheme has been a game changer for exports from India.<br \/>\n<strong>Conclusion<\/strong>: Write a way forward.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The PLI Scheme was launched as a <strong>part of the National Policy on Electronics 2019<\/strong> to give incentives of 4-6% to electronic companies. The PLI is an innovative scheme that provides incentives in terms of cash to various companies for enhancing their <strong>domestic manufacturing<\/strong> apart from focusing on reducing import bills and improving the cost competitiveness of local goods.<\/p>\n<h2><strong>A game changer for exports from India:<\/strong><\/h2>\n<ul>\n<li>It has not only transformed India into a <strong>manufacturing hub<\/strong> but has also curtailed its burgeoning trade deficit in electronics and other manufactured goods.<\/li>\n<li>Electronics manufacturing attracted a massive investment and its exports have grown rapidly by <strong>over 55 percent annually<\/strong>. Exports of mobile phones alone may reach $10 billion during the current financial year.<\/li>\n<li>India witnessed an unprecedented <strong>growth of 45 percent with exports<\/strong> touching $422 billion in 2021-22. It has been able to attract 22 top companies, including Apple and Samsung mobile phones in the electronics manufacturing segment.<\/li>\n<li>Despite global economic woes, <strong>India\u2019s overall exports<\/strong>, <strong>merchant and services combined, grew at 17.33 percent <\/strong>to $641 billion during April-January 2022-23 compared to $547 billion during the same period last year.<\/li>\n<li>With 97% of mobile phones sold in India now being made in India. Furthermore, they are also being <strong>\u201cMade in India for the World\u201d<\/strong> as we witness a sharp growth in smartphones exports by 139% over the last three years.<\/li>\n<li>Similar successes are replicated in the <strong>pharmasector PLI with 35 imported active pharmaceutical ingredients <\/strong>or key chemical inputs for drugs being developed in India.<\/li>\n<li>In addition, other sectors, such as food products, telecom and networking products, and drones are reporting successes with visible growth in investment, employment, and production.<\/li>\n<li>Over 600 foreign and domestic firms have been selected across 14 key sectors in two years, indicating enthusiastic industry participation.<\/li>\n<\/ul>\n<p>It is expected that, over the next five years, a manufacturing capacity of over $150 billion and exports of $100 billion will be tied up through the PLI scheme. Further, the government needs to rectify the challenges faced by Indian firms in manufacturing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction: Contextual introduction. Body:\u00a0Explain how Production-linked Incentive (PLI) scheme has been a game changer for exports from India. Conclusion: Write a way forward. The PLI Scheme was launched as a part of the National Policy on Electronics 2019 to give incentives of 4-6% to electronic companies. The PLI is an innovative scheme that provides incentives&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/answered-the-production-linked-incentive-pli-scheme-has-been-a-game-changer-for-exports-from-india-substantiate\/\">Continue reading <span class=\"screen-reader-text\">[Answered] The Production-linked Incentive (PLI) scheme has been a game changer for exports from India. Substantiate.<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"class_list":["post-230511","page","type-page","status-publish","hentry","entry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/230511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=230511"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/pages\/230511\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=230511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}