With an objective of creating a globally competitive manufacturing establishment, the cabinet has approved PLI Scheme for White Goods (ACs & LED) with a budgetary outlay of Rs. 6,238. The Scheme will be notified soon.
Brief of the Scheme
- The Scheme shall extend an incentive of 4% to 6% on incremental sales of goods manufactured in India for a period of five years.
- Thresholds of cumulative incremental investment and incremental sales of manufactured goods over the base year would have to be met for claiming incentives.
- Selection of companies for the Scheme shall be done so as to incentivize manufacturing of components or sub-assemblies which are not manufactured in India presently with sufficient capacity.
- Mere assembly of finished goods shall not be incentivized.
- An entity availing benefits under any other PLI Scheme will not be eligible under this scheme for the same products but the entity may take benefits under other applicable schemes of Govt. of India or schemes of State governments.
- The entities will have to meet the compulsory BIS and BEE Quality standards for sales into domestic market and applicable standards for global markets.
Multi Fold increase in Production and Exports expected
It is estimated that over the period of five years, Scheme will lead to incremental investment of Rs. 7,920 Crore.
Incremental Production worth Rs. 1,68,000 Crore, exports worth Rs 64,400 Crore.
Earn direct and indirect revenues of Rs 49,300 crore and create additional four lakh direct and indirect employment opportunities.