PLI had led to INR 1.25 lakh crore investments: PM Modi – ET Auto

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India’s production linked incentive (PLI) schemes have led to investments of over INR 1.25 lakh crore, Prime Minister Narendra Modi said Monday. Speaking at the Rising Rajasthan Global Investment Summit 2024, he said the role of PLI scheme in increasing manufacturing in India is also increasing.

“There is a lot of enthusiasm in Electronics, Specialty Steel, Automobiles and auto components, Solar, and Pharmaceuticals,” PM Modi said.

“Investment of about INR 1.25 lakh crore has been made in due to PLI scheme. Products worth about INR 11 lakh crore have been manufactured and exports have increased by INR 4 lakh crore,” he said.

Modi said Rajasthan has a good base of automotive and auto component industry. “There is a lot of potential for electric vehicle manufacturing here. The necessary infrastructure required for electronics manufacturing is also available in Rajasthan,” he said.

Speaking before PM Modi at the event, Rajasthan Chief Minister Bhajan Lal Sharma said agreements for investment worth INR 35 lakh crore have been signed during the summit.

Commenting on the reform push in India, Modi said the country is following the mantra of Reform-Perform-Transform. “In the last 10 years, India has almost doubled the size of its economy,” he said while adding that India’s exports and Foreign Direct Investments (FDI) have more than doubled as compared to the decade before 2014.

“During this period, India has increased infrastructure expenditure from about INR 2 lakh crore rupees to INR 11 lakh crore,” Modi added.
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