: Govt notifies PLI scheme worth Rs 6,238 cr for AC, LED makers #FinanceIndia #StockMarketNEWS Govt notifies PLI scheme worth Rs 6,238 cr for AC, LED makers New Delhi, Jun 5 (KNN) The Department for

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Govt notifies PLI scheme worth Rs 6,238 cr for AC, LED makers #FinanceIndia #StockMarketNEWS
Govt notifies PLI scheme worth Rs 6,238 cr for AC, LED makers New Delhi, Jun 5 (KNN) The Department for Promotion of Industry and Internal Trade (DPIIT) has notified the Production Linked Incentive (PLI) scheme for White Goods - Air Conditioners and LED Lights - manufacturers in India.

The objective of the scheme is to create a complete component ecosystem in India and make India an integral part of the global supply chains.

With due consultations with industry and other stakeholders, DPIIT issued detailed scheme guidelines for effective operation and smooth implementation of the scheme. The scheme is expected to attract global investments, enhance manufacturing and generate large scale employment opportunities, an official statement said on Friday.

The PLI Scheme will be implemented within the overall financial limits of Rs 6,238 crores over a period of 5 years during FY 2021-22 to FY 2028-29.

Eligible investment made in terms of scheme guidelines, on April 1, 2021 or thereafter, shall be reckoned for considering the incentive under the scheme, it added.

Detailed scheme guidelines may be accessed at dipp.gov.in/production-linked-incentive-scheme/production-linked-incentive-scheme-pli-white-goods.
The application window for the scheme shall be open from June 15th, 2021 to September 15th, 2021.

Companies meeting the pre-qualification criteria for different target segments will be eligible to participate in the scheme. Incentives shall be open to companies making brown field or green field Investments. Thresholds of cumulative incremental investment and incremental sales of manufactured goods over the base year would have to be met for claiming incentives.

An entity availing benefits under any other PLI Scheme of government India may take benefits under other applicable schemes of Government of India or schemes of state governments.

A number of global and domestic companies, including a number of MSMEs are likely to benefit from the scheme. The scheme is expected to be instrumental in achieving growth rates that are much higher than existing ones for AC and LED industries, develop complete component eco-systems in India and create global champions manufacturing in India, the statement said.