PLI scheme for white goods to bring cost-competitiveness

On 15th June’ 2021, Piyush Goyal, Minister of Commerce and Industry said production linked incentive (PLI) scheme for the white goods has been launched to create leading manufacturers with in the nation and to improve cost-competitiveness, quality, efficiency and technology. White goods includes products such as ACs and LED lights.

During the meeting with the industry, he further added that the companies will be chosen for the scheme in transparent and time bound manner. Ministry of Commerce and Industry commented on 14th June’ 2021, “The interaction was held to take the feedback on the scheme, the application window for which will be open for three months from tomorrow.”

Under the scheme, for the next five years till FY 2029, incentives of 4-6% will be offered on incremental sales of goods manufactured in India. In Budget 2021-22, PLI scheme for 13 key sectors was announced, valued at Rs. 1.97 lakh crore and aim to generate US% 500 billion worth of revenue over the five years. 

According to the ministry, PLI scheme can expand 1/4 of total manufacturing output of the last five years and generate employment of 1 crore.