PLI schemes achieve 76% of investment target, 64% of production goal: Niti Aayog

New Delhi: The production-linked incentive (PLI) scheme has achieved 76% of the investment target and 64% of the production target with particularly strong outcomes emerging in electronics, telecom and pharmaceuticals, Niti Aayog said on Thursday.

In its 'Impact Assessment of PLI Schemes' report, the Aayog said the scheme had attracted cumulative investments of ₹2.40 lakh crore, generated production worth ₹22.66 lakh crore, created employment for 849,069 individuals and disbursed ₹35,354 crore in incentives as of March 2026. "The assessment indicates that the PLI scheme is beginning to generate meaningful additionality across several sectors, it said.

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As per the report, cumulative investments under the scheme had reached 76% of the full-tenure target of ₹3.15 lakh crore, while cumulative production or sales had reached 64% of the corresponding full-tenure target of ₹35.37 lakh crore. Cumulative employment stood at 28% of the full-tenure target of 3.02 million. However, employment achievement was 86% of the target up to FY23, around 85% in FY24 and 156% in FY25, before falling to 31% of the annual target in FY26.

"A lower cumulative achievement in one parameter, particularly during the implementation phase, cannot automatically be interpreted as failure to achieve the eventual full-tenure objective," it said. The PLI scheme is a major policy initiative of the government of India aimed at strengthening domestic manufacturing, attracting investment, creating employment, promoting exports and building globally competitive production capabilities.

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It has been introduced across 14 sectors to realise India's vision of becoming a manufacturing hub and have a combined financial outlay of ₹1.91 lakh crore, against which cumulative disbursements stood at ₹35,354 crore as of March 2026, representing 18.51% of the total outlay. At the same time, the pace of outcomes varies across sectors, reflecting differences in the maturity of the schemes, investment cycles and sectoral characteristics, the report said.

Other sectors, including automobiles and auto components, telecom and speciality steel, demonstrate encouraging progress, particularly in investment and production, but require further strengthening in areas such as employment, exports and domestic value addition. "In relatively newer or more capital-intensive sectors such as ACC batteries and advanced electronic components, outcomes remain at an early stage,with substantial investments still in the capacity-creation and commissioning phase," the Aayog said.

The report pointed out that large-scale electronics manufacturing (LSEM) with an outlay of ₹34,193 crore has emerged as one of the strongest performers, particularly in mobile manufacturing, with significant growth in production, sales, exports and employment across both domestic and global firms.

Releasing the report, Niti Aayog vice chairman Ashok Kumar Lahiri said manufacturing has long been recognised as an engine of employment, innovation and productivity-led growth. "For India, as it advances towards the vision of Viksit Bharat @2047, strengthening manufacturing capabilities will be central to sustaining high, inclusive and broad-based growth," Lahiri said.