New Delhi: Union Commerce and Industry Minister Piyush Goyal on Monday held an interaction with the Industry on Production Linked Incentive (PLI) Scheme on White Goods (ACs and LED).
The interaction was held to take the feedback on the scheme, the Application window for which will be open for 3 months from tomorrow.
In the Budget 2021-22, the outlay of Rs. 1.97 Lakh Crore for the PLI Schemes for 13 key sectors was announced. Through PLI, minimum production is expected to be $500 Bn over 5 years.
PLI alone can expand 1/4th of the total manufacturing output of the last 5 years. The minimum expected employment through this scheme over 5 yrs is ~ 1 Cr. PLI Scheme for White Goods was notified on 16th April’21.
Scheme Guidelines were issued on 4th June 2021 for the Production Linked Incentive Scheme for White Goods manufacturers in India. The Outlay for the scheme is Rs 6,238 Cr for 2021-22 to 2028-29. It extends an incentive of 4% to 6% on incremental sales for 5 years.
Addressing the captains of the industry, Shri Goyal said the scheme has been introduced to produce national manufacturing champions. He said that ‘India’s Growth Story’ will be led by its flagship PLI Scheme. It will bring Cost-competitiveness, Quality, Efficiency & Technology.
The Minister said that through PLI, India will leverage its Competitive & Comparative advantage to stake its claim in Global Supply Chains.
The scheme will reboot Indian Manufacturing to create Capacity & Capability. Shri Goyal said that the selection of the companies eligible under the scheme will be done in a transparent and time-bound manner.
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