Your huge presence from across India in this important webinar reflects its significance. I welcome all of you wholeheartedly. You are aware that an idea came to mind this time about the implementation of the budget and we are doing a new experiment and if this experiment is successful, it will probably be highly beneficial in the future also. So far, many such webinars have been organised. I have had the opportunity to talk to thousands of dignitaries of the country about the budget.
Webinars have continued all day long and very good suggestions have come from all of you regarding a better roadmap for the implementation of the budget proposals. It appears as if you are in a mood to go two steps further and that too rapidly than the government. It is pleasant news in itself for me and I am sure that we will endeavour today in this dialogue to ensure that the country’s budget and the policy making does not just remain a government process. There should be effective engagement of every stakeholder involved in the development of the country. As part of the ongoing series, this dialogue is being held today with all the important colleagues so as to give impetus to the manufacturing sector, i.e., Make in India. As I told you there has been very fruitful dialogue with people from different sectors in the past weeks and very important innovative suggestions have come forward. The focus of today's webinar is exclusively linked to production linked incentives.
In the last 6-7 years, a number of successful efforts have been made to encourage Make in India at different levels. The contribution of all of you has been commendable. Now we have to take several more big steps to take these efforts to the next level, to increase our speed and scale also. And after the last one year of Corona's experience, I am convinced that this is not just an opportunity for India. It is a responsibility towards India and the world. And, therefore, we have to move very fast in this direction. You all know very well how manufacturing transforms every segment of the economy, how it creates an impact, how an ecosystem is created. We have examples from all over the world where countries have accelerated their development by increasing their manufacturing capabilities. The increasing manufacturing capabilities also generate more employment opportunities in the country.
India also now wants to work very fast with the same approach and wants to move forward. Our government is making reforms in this sector continuously to promote manufacturing. Our policy and strategy is clear in every manner. Our thinking is Minimum Government, Maximum Governance and we expect Zero Effect, Zero Defect. We have to make assiduous efforts to make manufacturing in India globally competitive. Together we have to work to create an identity of our products, production cost, quality of products and efficiency in the global market. And our products should be user friendly; technology should be most modern, affordable and should be long lasting. We need to attract more cutting edge technology and investment in core competency sectors. And, of course, the active participation of all of you in the industry is equally necessary. The government is trying to move forward with this focus by taking all of you together. Work is being done at every level whether it's emphasizing ease of doing business, reducing compliance burden, building multimodal infrastructure to reduce logistics cost or building export hubs at the district level.
Our government believes that the government's meddling in everything creates more problems than solutions. Therefore, our emphasis is on self-regulation, self-attesting, self-certification, that is, to move forward by relying on the citizens of the country. We plan to reduce more than 6,000 central and state level compliances this year. Your opinions and suggestions in this regard are very important. You may not get as much time in the webinar, but you can send me in writing. We are going to take it seriously because there should be a minimum burden of compliance. There is technology and therefore we need to get rid of filling up forms again and again. Similarly, the government is working in several areas today to provide a global platform to exporters and producers to promote exports at local level. This will help MSMEs, farmers and small handicrafts artisans in exports.
Our belief behind the production linked incentives scheme is to expand manufacturing and exports. The philosophy behind the budget can prove to be consequential if we can give concrete shape to schemes in this webinar so that the manufacturing companies around the world make India their base and there is growth in the number and potential of our domestic industries and MSMEs. The scheme aims to widen the scope of the global presence in core competencies and exports of Indian industries in different sectors. We have to change this situation of exports in a limited space, in limited countries, in limited items from limited corners of the country. Why should every district not be an exporter of India? Why should not every country import from India and from each and every corner of the country? Why should not there be all kinds of products for exports? You may have also noticed an obvious difference between the earlier and existing schemes. Earlier, industrial incentives used to be the provision of an open ended input based subsidy. Now it has been made performance-based through a competitive process. Bringing 13 sectors under the ambit of this scheme for the first time reflects our commitment.
Not only is it benefiting the PLI sector for which the scheme is meant, it will greatly benefit the entire ecosystem associated with that sector. With PLI in the auto and pharma sectors, foreign dependence on auto parts, medical equipment and raw material of drugs will be greatly reduced. The country’s energy sector will be modernized through advanced cell batteries, solar PV modules and specialty steel. With our own raw material, labour, skill and talent, we can leapfrog. Similarly, the PLI to the textile and food processing sectors will benefit our entire agriculture sector. It will have a positive impact on our farmers, herders, fishermen, that is, the entire rural economy and will help in increasing incomes.
You must have seen yesterday that the United Nations has declared 2023 as the International Year of Millets on the proposal of India. More than 70 countries came in support of India's proposal. And then, this proposal was adopted unanimously in the U.N. General Assembly. It is a glorious matter for the country. It is also a great opportunity for our farmers, and especially the small farmers, who grow coarse cereals where irrigation facilities are scant. We proposed the importance of this coarse cereal in the world through the U.N. which has been approved for 2023. Our farmers grow this coarse cereal in difficult terrain where irrigation facilities are not available. Today there is a great opportunity for Indian farmers to develop different varieties of millets because of its nutritional value and to make it affordable in the world. Just as we have propagated, disseminated and distinguished yoga in the world, all of us, especially those who are into agro-processing, can take millets, that is, coarse cereal, to places.
We have enough time for 2023 and we can start a worldwide campaign with full preparedness. Just as the Made in India vaccines are there to protect people from Corona, the coarse cereals like millets produced in India replete with nutritional value will be very useful in protecting people from getting sick. We are all familiar with the nutritional potential of millets or coarse cereals. There was a time when millets used to figure prominently in the kitchen. Now the trend is returning. There will be a rapid increase in the demand for millets in the country and abroad after the announcement of 2023 as the International Year of Millets by the UN following India's initiative. It will greatly benefit our farmers, especially the small farmers of the country. Therefore, I urge the people involved in the agriculture and food processing sector to take full advantage of this opportunity. A small task force should be created following your suggestions in the webinar which should develop a model for public-private partnership which can take forward this Millets Mission to the world. We can deliberate what all varieties can be created which are conducive to the taste of different countries of the world and are very nutritious for the health.
A provision of about Rs. 2 lakh crore has been made for the plans related to PLI scheme in this year’s budget. An average of 5 per cent of production is given as incentive. That is, production worth about 520 billion dollars is estimated in the next five years in India only through the PLI scheme. It is also estimated that the workforce in the sectors for which the PLI is planned will be almost doubled. The PLI scheme is going to have a huge impact in employment creation. Besides the benefit from production and exports, the industry will also reap advantages due to increase in demand following the rise in income, i.e., double the profit.
The announcements related to the PLI are being implemented expeditiously. The Cabinet has already approved two PLI schemes related to the IT hardware and telecom equipment manufacturing. I am sure that the colleagues associated with these sectors must have made their assessment so far. The production in the case of IT hardware is estimated at about Rs. 3.25 trillion in the next four years. The domestic value addition in the IT hardware will increase to 20-25 per cent from the existing 5-10 per cent over five years. Similarly, telecom equipment manufacturing will witness an increase by about 2.5 lakh crore rupees in the next five years. We will also be in a position to export telecom equipment worth about Rs. 2 lakh crores. In the Pharma sector also, the possibility of investment worth lakhs of crores of rupees under the PLI can’t be ruled out. We can move ahead with big goals. The sale of pharma products is estimated to increase by about Rs. 3 lakh crore and exports by about Rs. 2 lakh crore.
The aircraft, which are going all over the world today carrying millions of doses of vaccines from India, are not returning empty. They are returning with the increase in trust, intimacy, affection of the people of those countries, blessings of the elderly who are sick and an emotional attachment towards India. And the trust that is created in the crisis period does not only create an impact, it is everlasting, immortal and inspiring. The way India is serving humanity with humility today, we're not doing it with any ego, but we are doing it in a manner of duty. ‘सेवा परमो धर्म’ (service is the supreme duty) is our culture. With this, India has become a very big brand all over the world. India's credibility and identity is constantly reaching a new height. And this trust is not only limited to the vaccines and pharma products. When a country becomes a brand, the respect and attachment of every person in the world increases towards everything and becomes its first choice.
The trust towards our medicines, medical professionals and medical equipment has also increased today. In order to honour this trust, the pharma sector will have to start working from now regarding our long-term strategy and to take advantage of the opportunities. And friends, we should not let this opportunity go of this trust and should plan to move ahead in other sectors as well. Therefore, every sector should start devising strategy in view of these positive circumstances. It is not time to lose; it is time to grab the opportunities for the country and for your company. And, friends, it is not at all difficult to do these things which I am saying. The success story of the PLI scheme also supports them and yes, it is possible. One such success story is the electronics manufacturing sector. Last year, we launched the PLI scheme for manufacturing mobile phones and electronics components. During pandemic also, the sector recorded production worth Rs. 35,000 crore last year. Also, there has been a new investment of about Rs. 1300 crores in this sector in this period of Corona. This has created thousands of new jobs in this sector.
The PLI scheme is going to have a cascading effect on the country’s MSME ecosystem. Why I am saying this is because the anchor units that will be built in every sector will require a new supplier base in the entire value chain. Most of these ancillary units will be built in the MSME sector. Work has already begun to prepare MSMEs for such opportunities. The MSME sector is getting a lot of benefit from the decisions to increase the investment limit and change in the definition of MSMEs. Today, when we are sitting here, we also expect your proactive participation. If you are having any trouble joining the PLI, if there is room for any improvement, you must discuss and also convey it to me.
We have demonstrated that we can achieve big goals with collective efforts in difficult times. This approach of collaboration will create Atmanirbhar Bharat. Now all the members in the industry have to utilize new opportunities. The industry now has to expand the focus on making best quality goods for the country and the world. The industry will have to innovate according to the needs of the fast moving and fast changing world and also increase its participation in R&D. India's industry will have to upgrade the manpower skills and use new technology to be globally competent. I am sure that today's dialogue will pave the way of 'Make in India, Make for the World' with your thoughts and suggestions and will give a new force, strength, momentum and energy.
I would again urge you to convey to me whatever problems you are facing, whatever your suggestions are on reforms with an open mind. The government is prepared for every suggestion and will solve every problem. I would say one more thing, whatever the government's incentives are; you sometimes feel that your goods will be sold if they are cheaper than other countries. You may be right, but the greatest strength is quality. The world is ready to give two rupees more for the product which stands the test of quality in competition. Today, India has become a brand. Now you just have to create an identity of your product. You will not have to work hard. If you have to work hard it will be on the quality of production. The merit of PLI is not to seek more benefits under the PLI, but it is most beneficial in emphasizing on the quality of production. If we focus on this aspect in this dialogue, there will be a lot of benefits.
I don’t want to take much of your time as you are going to sit all day long. My good wishes to all of you. I heartily thank you for attending this function in such a large number.