Cabinet approves PLI Scheme for Air Conditioners and LED Lights

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The Union Cabinet has approved the Production Linked Incentive (PLI) Scheme- ‘National Programme on High Efficiency Solar PV Modules’ for achieving manufacturing capacity of Giga Watt with an outlay of Rs 4,500 crore. Commerce and Industry Minister Piyush Goyal said that the scheme will add an additional 10 thousand MegaWatt capacity of integrated solar Photovoltaic manufacturing plants and will bring direct investment of around Rs 17,200 crore in solar PV manufacturing projects. He said, direct employment of about 30 thousand and Indirect employment of about 1 lakh 20 thousand persons will be generated.

The Union Cabinet also approved the Production Linked Incentive (PLI) Scheme for White Goods – Air Conditioners and LED Lights with a budgetary outlay of Rs 6,238 crore. The prime objective of the PLI scheme is to make manufacturing in India globally competitive by removing sectoral disabilities, creating economies of scale and ensuring efficiencies. The scheme is expected to attract global investments, generate large scale employment opportunities and enhance exports substantially. Union Minister Piyush Goyal said that the PLI Scheme for White Goods will extend an incentive of 4 to 6 per cent on incremental sales of goods manufactured in India for a period of five years to companies engaged in manufacturing of Air Conditioners and LED Lights. A number of global and domestic companies including MSMEs are likely to benefit from the Scheme.

also read : Union Cabinet approves investment of Rs 10,900 crore under PLI scheme in food processing industry

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