Minister of State for Commerce and Industry, Jitin Prasada, reported that Production Linked Incentive (PLI) schemes have contributed to attracting actual investments worth over 2.40 trillion rupees and creating more than 1.415 million jobs by the current year's March.
In a written response to Lok Sabha, it was stated that thanks to these schemes, total exports exceeded 15.2 trillion rupees since their launch, reflecting India's growing integration into global value chains. Prasada stated that as of March 31, 2026, the PLI schemes provided actual investments exceeding 2.40 trillion rupees and generated employment for over 1.415 million people (direct and indirect).
According to data presented by the minister, the largest volume of investment was received in the high-efficiency solar photovoltaic module sector (64,873 crore rupees). This was followed by pharmaceuticals (45,158 crore rupees), automotive industry (44,326 crore rupees), specialized steel (23,896 crore rupees), and large-scale electronics manufacturing (20,580 crore rupees) by March.
In a separate reply, the minister informed that as of June 30 of the current year, under the Startup India Seed Fund Scheme, 219 active incubators were selected with a total approved funding of 945 crore rupees, of which 650 crore rupees has already been disbursed to the incubators.
Furthermore, Prasada mentioned that over the last five years (2021–2026), Indian overseas investments in the USA amounted to $15.9 billion. In the last financial year, this amount exceeded $4 billion, and in 2024–25, it reached $3.44 billion.
Responding to the question, the minister clarified that according to FDI policy, 100% foreign direct investment is permitted through the automatic route in single-brand retail, whereas 51% FDI is allowed through the approval route in multi-brand retail (MBRT) subject to certain conditions.
He also reported that the cumulative inflow of FDI in the single-brand retail segment from April 2021 to March 2026 reached $1,528.66 million. Meanwhile, investments in this sector decreased to $179.25 million in 2025–26 compared to $486.66 million in 2021–22. Similarly, cumulative FDI in the multi-brand sector amounted to $34.38 million for the period from April 2021 to March 2026, increasing to $9.7 million in 2025–26 compared to $7.47 million in 2021–22.
According to a report by JM Financial Research, the upcoming adjustment to the MSCI India Standard index may trigger an estimated passive inflow of approximately $2.3 billion into Indian equities. During the August review cycle, up to 12 new stocks are expected to be included and three excluded.
Among the companies that might enter the index, Adani Green Energy, Adani Energy Solutions, and the investment platform Groww (Billionbrains Garage Ventures) are highlighted as high-probability candidates. The brokerage firm estimates that the addition of Groww could bring about $821 million in passive inflows, while Adani Green is projected to receive approximately $773 million.
Ather Energy is considered a medium-probability contender, contingent upon further improvement in its market capitalization adjusted for free float during the observation period.
Furthermore, the brokerage firm identified Laurus Labs and Biocon as strong candidates for transitioning from the MSCI Small Cap index to the Standard Index in August. This transition could potentially provide a passive inflow of $554 million for Laurus Labs and $285 million for Biocon.
The mid-cap IT company Coforge is categorized as a medium-probability candidate for transition and, if included, could receive an inflow of $567 million.
On the other hand, Astral is considered a high-probability candidate for exclusion from the index, while SBI Cards and Payment Services is classified as a medium-probability candidate for removal. The exclusion of SBI Cards could lead to an outflow exceeding $140 million, whereas the outflow from Astral could amount to around $138 million, according to estimates. There is also a low probability of Balkrishna Industries exiting.
Currently, the MSCI India Standard Index comprises about 165 components with a total market capitalization of approximately $3.2 trillion. Market participants closely monitor MSCI index reviews, as changes typically lead to significant trading volumes and short-term price fluctuations in the affected stocks, largely driven by passive fund adjustments.
