Success related to the production-linked incentive (PLI) scheme to boost the start-up ecosystem, streamlining logistics, enhanced foreign direct investment (FDI) inflows and establishment of over 1,300 manufacturing units under the PLI scheme were among the key achievements of the Indian department for promotion of industry and internal trade (DPIIT) this year.
The following were some of the key initiatives and achievements of the department in the year, as per an official release:
Success related to the PLI scheme, streamlining logistics, enhanced FDI inflows and establishment of over 1,300 manufacturing units under the PLI scheme were among the key achievements of the Indian department for promotion of industry and internal trade this year.
The Open Network for Digital Commerce recorded 12.8 million orders in September, with total orders reaching 113.4 million to date.
- The PLI scheme clocked ₹1.46 lakh crore ($17 billion) in investment,₹12.5 lakh crore ($146 billion) in production, ₹4 lakh crore ($46.7 billion) in exports and generated 950,000 jobs. Incentives disbursed till fiscal 2023-24 stood at ₹9,721 crore ($1.13 billion).
- To streamline business in the logistics sector, 37 logistics-related digital systems or portals were integrated across 10 ministries and departments. Tracking and tracing of India’s containerised export-import cargo is being done. Logistics-related courses were introduced in 115 universities.
- From 2000 to 2024, a total FDI inflow of $991 billion was recorded, with 67 per cent ($667 billion) received during the last ten fiscals. FDI equity inflow in the manufacturing sector increased by 69 per cent, rising from $98 billion between 2004 and 2014 to $165 billion in the 2014-2024 period. In the first quarter of fiscal 2024-25, FDI inflow reached $22.5 billion, a 26 per cent increase year on year (YoY).
- The Business Reforms Action Plan (BRAP) 2024 framework, consisting of 344 reforms (57 central and 287 state-level), was circulated to states and ministries.
- The Open Network for Digital Commerce (ONDC) has grown rapidly, recording 12.8 million orders in September 2024, with total orders reaching 113.4 million to date. Currently, the network has 115 active network participants. ONDC is operational in over 1,100 cities, with a network of 7.01 lakh sellers and service providers.
- The Uttar Purva Transformative Industrialization Scheme for the Northeast region was notified on March 9, 2024, with a duration of 10 years from the date of notification, followed by an additional eight years for fulfilling committed liabilities. Under the Scheme, incentives will be provided to new and existing industrial units under three categories: capital investment incentive, central capital interest subvention incentive manufacturing and services-linked incentive (MSLI).
- Twelve greenfield infrastructure projects were initiated worth ₹28,602 crore ($3.336 billion), unlocking ₹1.5 lakh crore ($17.51 billion) investment potential and 940,000 potential jobs under the National Industrial Corridor Development Project.
Fibre2Fashion News Desk (DS)
