The government's Production Linked Incentive (PLI) scheme has attracted an investment of Rs 1.03 trillion until November, with exports exceeding Rs 3.20 trillion since the scheme's initiation. This investment has translated into a production value of Rs 8.61 trillion and the creation of over 678,000 direct and indirect jobs, as reported by Rajeev Singh Thakur, additional secretary of the Department for Promotion of Industry and Internal Trade (DPIIT).

As of now, companies participating in the scheme have received incentive disbursements totalling Rs 4,415 crore, compared to the Rs 1,541 crore disbursed by September. The incentive has been allocated across eight PLI schemes covering various sectors, including Large-Scale Electronics Manufacturing (LSEM), IT Hardware, Bulk Drugs, Medical Devices, Pharmaceuticals, Telecom & Networking Products, Food Processing, and Drones.

Despite the considerable disbursement, it falls short of the government's projected Rs 11,000 crore for the current fiscal year. The total incentive outlay for the scheme is Rs 1.97 trillion, and the first set of payouts, amounting to Rs 2,874 crore, occurred in the previous financial year.

Government officials anticipate greater clarity on claimed incentives by March, as the majority of claims were submitted by December's end and are expected to undergo verification and processing by March. In an effort to streamline the process, ministries and Project Monitoring Agencies (PMAs) are directed to establish a Standard Operating Procedure (SOP) to reduce processing times. Thakur highlighted communication delays between PMAs and companies and emphasized the need for timely approvals without unnecessary objections.

Despite slower progress in some schemes, mobile phone and pharmaceutical PLI initiatives have shown notable advancements. The implementation of the scheme has spurred local manufacturing of electronic components, such as batteries, chargers, PCBA, PCB, camera modules, passive components, and certain mechanics.

An official statement emphasized positive signs in the component ecosystem, with major companies like the Tatas entering component manufacturing. While PLI beneficiaries constitute only 20% of the market share, they have contributed to around 82% of mobile phone exports in FY 2022-23. Mobile phone production has surged by over 125%, and exports have quadrupled since FY 2020-21. Foreign Direct Investment (FDI) has increased by approximately 254% since the inception of the PLI scheme for large-scale electronics manufacturing, reflecting the success and impact of the initiative.