Production Linked Incentive schemes are considered to be a game changer to turn around India's inability to scale up. In 2021, the government launched PLI schemes across 10 key sectors, including recently on semiconductors. So far, PLI schemes spanning mobile phones, drugs and medical devices have attracted investments of over $5 billion. An official statement recently mentioned that the investments derived from the PLI schemes could be over $504 billion in terms of production and would add around 10 million jobs in the next five years.
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