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Economy > Government policies
08 April 2021
The union cabinet on Wednesday approved the extension of Production Linked Incentive (PLI) scheme to white goods such as air-conditioners and LED lights, with a budgetary outlay of Rs6,238 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. It is designed to create complete component ecosystem in India and make India an integral part of the global supply chains.
The scheme is expected to attract global investors, generate large scale employment opportunities and enhance exports substantially.
The PLI scheme for white goods, companies engaged in the manufacture of air conditioners and LED lights will be provided an incentive of 4 to 6 per cent on incremental sales of goods manufactured in India for a period of five years.Different incentives have been earmarked for different types of components to s
After four years of denial in the world’s largest economy, climate change is back centre stage. On April 22, Joe Biden will host 40 world leaders, including Narendra Modi, at a virtual summit. The purpose of the meeting is to ‘underscore the urgency and benefits of climate action’.
Updated Apr 09, 2021 | 08:33 IST
Solar module manufacturers from US and China have written to the government to set up local manufacturing plants in India under the recently unveiled PLI scheme US, Chinese solar companies want to set up manufacturing plants in India under PLI scheme | Photo Credit: Thinkstock
New Delhi: Manufacturers from US and China are warming up to the government’s Production-Linked Incentive (PLI) scheme. China’s LONGi Star and Trina Star, which manufacture solar panels, wafers and modules are reportedly in talks with Indian companies to set shop in India under the PLI scheme.
The Union Cabinet chaired by Prime Minister Narendra Modi cleared the Rs 4,500-crore scheme for solar modules. PLI schemes seek to boost local manufacturing and exports from India by giving incentives to manufacturers. The scheme is likely be rolled out in the next 15 days, according to Economic Times.