| |
Union Commerce and Industry Minister Piyush Goyal, while the opening of the three-month window for the production linked incentive (PLI) scheme for white goods, said that the scheme has been introduced to produce national manufacturing champions. “The scheme will reboot Indian manufacturing to create capacity and capability. The selection of the companies eligible under the scheme will be done in a transparent and time-bound manner.
He added at a meeting with the industry that India’s growth story will be led by its PLI scheme. He further added that the PLI scheme for white goods will bring cost-competitiveness, quality, efficiency, and technology. Through the scheme, India will leverage its competitive and comparative advantage to stake claims in the global supply chains.
The minister added that selection of companies eligible under the scheme will be done in a transparent and time-bound manner.
The interaction over the PLI scheme for white goods such as ACs and LEDs was held to take the feedback on the scheme. The three-month application window opens today.
PLI for white goods was started on April 16 and the guidelines were issued on June 4. The outlay for the scheme is Rs 6,238 crore for 2021-22 to 2028-29. The scheme will extend an incentive of 4-6 percent on incremental sales for five years.
An outlay of Rs 1.97 lakh crore was announced in Budget 2021-22 for PLI schemes for 13 key sectors. Through PLI, minimum production is expected to be $500 billion in over five years. The ministry said that PLI alone can expand a quarter of the total manufacturing output of the last five years. The government is expecting 1 crore employment generation through this scheme in five years.
PLI for white goods was notified on April 16 and the guidelines were issued on June 4. The outlay for the scheme is Rs 6,238 crore for 2021-22 to 2028-29. The scheme will extend an incentive of 4-6 percent on incremental sales for five years.
Rs 1.97 lakh crore were announced in Budget 2021-22 for PLI schemes for 13 key sectors. Through PLI, minimum production is expected to be $500 billion in over five years. The ministry said that PLI alone can expand a quarter of the total manufacturing output of the last five years. The government expects to generate 1 crore employment through this scheme in five years.
“The interaction was held to take the feedback on the scheme, the application window for which will be open for three months from tomorrow,” said a minister.
