Expecting Investment Worth Rs 2 Lakh Crore Via PLI Schemes, Says Piyush Goyal

Investments via the Production Linked Incentive schemes are expected to overshoot the earlier expected target of Rs 1.32 lakh crore and reach about Rs 2 lakh crore, Union Minister for Commerce and Industry Piyush Goyal said on Sunday.

Goyal met with representatives of 140 companies that are beneficiaries of the various PLI schemes across sectors.

He added employment estimates also shot up, with direct employment coming in at about 12 lakh and much more from indirect employment, against the earlier 8.5 lakh jobs.

However, Goyal said no decision on extension of PLI schemes had been taken, and it will be at an "appropriate time" and on a case-by-case basis.

He added that quality approvals for beneficiary companies will be fast-tracked, and existing prior experience conditions might be liberalised for new manufacturers.

Goyal said the decision to expand Invest India's mandate had also been taken. "All companies have their point of contacts and line ministries, but we're also opening up Invest India to look at domestic companies and investments, not just foreign investors," he said.