HomeNewsPLI scheme will produce national manufacturing champions: Minister

PLI scheme will produce national manufacturing champions: Minister

Addressing the captains of the industry, Union Commerce and Industry Minister Shri Piyush Goyal said the Production Linked Incentive (PLI) 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.

Goyal was interacting with the Industry on 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 today.

In the Budget 2021-22, 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 Cr . PLI Scheme for White Goods was notified on 16th April’21. Scheme Guidelines were issued on 4th June, 2021 for 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.

Subscribe to our newsletter

To be updated with all the latest news from Sawdust




latest news