Investments totaling Rs. 6887 crore will be made under the production-linked incentive (PLI) scheme for large-scale electronics manufacturing through June 2023. The amount has exceeded the ministry's goal, which was to invest Rs 5,488 crore by the end of FY24.

According to the most recent information provided by the Ministry of Electronics and Information Technology in Rajya Sabha on August 11, the sector has also produced more than Rs 3.3 lakh crore and created about 62,000 jobs.

The scheme has been credited with exports worth Rs. 1.56 lakh crore as of June 23. In FY24, the ministry plans to export goods worth more than Rs 2.63 lakh crore.

Launched in 2021, the output-linked programme covers 14 sectors such as telecommunication, white goods, textiles, and manufacturing of medical devices with an outlay of Rs 1.97 lakh crore.

It provides financial incentives to businesses that produce goods in India in the aforementioned 14 sectors. The incentives are determined by factors like increased sales, export growth, and job creation.

According to official data, incentives totaling Rs 2,900 crore were given out in FY23 under PLI schemes for eight industries, including the production of large-scale electronics, IT hardware, bulk medications, medical devices, and pharmaceuticals, as well as telecom and networking products, food processing, and drones and drone parts.

Rajesh Kumar Singh, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), stated at a briefing on August 11 that the commerce ministry is projecting a nearly 350 percent increase in disbursals to Rs 13,000 crore, significantly higher than the Rs 2,900 crore awarded thus far.