Quick Summary
Union Cabinet approves Production Linked Incentive (PLI) Scheme for White Goods (Air Conditioners and LED Lights) Incentives worth Rs. 6,238 Crore to be provided over five years for manufacturing of these products in India Production Worth Rs. 1.68 Lakh Crore and Exports Worth Rs. 64,400 Crore
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FAQ :
It is a scheme approved by the Union Cabinet to provide incentives for the manufacturing of Air Conditioners and LED Lights in India, aiming to boost domestic production and global competitiveness.
The scheme has a budgetary outlay of £6,238 crore to be provided over a period of five years.
The scheme is expected to facilitate additional investments of £7,920 crore, lead to production worth £1.68 lakh crore, boost exports to £64,400 crore, generate substantial revenues, and create four lakh direct and indirect jobs.
The scheme specifically covers the manufacturing of Air Conditioners and LED Lights.
Companies will receive an incentive of 4% to 6% on incremental sales of goods manufactured in India for five years.
No, mere assembly of finished goods will not be incentivised. The scheme focuses on incentivising the manufacturing of components or sub-assemblies, especially those not currently manufactured in India with sufficient capacity.
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