Speed Post News Network
New Delhi : Union Commerce and Industry Minister Piyush Goyal on June 14, 2021, held 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 June 15, 2021.
In the Budget 2021-22, an 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 total manufacturing output of the last 5 years. Minimum expected employment through this scheme over 5 yrs is 1 crore.
PLI Scheme for White Goods was notified on April 16, 2021. Scheme Guidelines were issued on June 4, 2021, for Production Linked Incentive Scheme for White Goods manufacturers in India. The outlay for the scheme is Rs 6,238 crore for 2021-22 to 2028-29. It extends an incentive of 4% to 6% on incremental sales for 5 years, according to a PIB release.
Addressing the captains of the industry, 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 and Comparative advantage to stake its claim in Global Supply Chains. The scheme will reboot Indian Manufacturing to create Capacity and Capability. Goyal said that the selection of the companies eligible under the scheme will be done in a transparent and time-bound manner.