ET World Leaders Forum: PM Modi says ‘production-linked punishment’ era once held back Indian industry; pegs India as world’s fastest-growing economy

Prime Minister Narendra Modi on Friday said India had moved from the Licence Raj-era “Production Linked Punishment” model to incentivising production through the PLI scheme, which he said has generated ₹2.5 lakh crore in investment, ₹22 lakh crore in production and sales, ₹15 lakh crore in exports and over 14 lakh jobs.