Union Commerce and Industry Minister Piyush Goyal, ahead of 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. During an interaction with the industry on Monday, Goyal said that the scheme will reboot Indian manufacturing to create capacity and capability.
India's growth story will be led by its PLI scheme, stated the minister. He further added that PLI scheme for white goods will bring cost-competitiveness, quality, efficiency and technology. Through the scheme, he said, India will leverage its competitive and comparative advantage to stake claim in the global supply chains.
The minister stated 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 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 incentive of 4-6 per cent 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 expects to generate 1 crore employment through this scheme in five years.
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