: Piyush Goyal interacts with Industry on PLI Scheme on White Goods #FinanceIndia #StockMarketNEWS Piyush Goyal interacts with Industry on PLI Scheme on White Goods New Delhi, Jun 15 (KNN) Union Commerce

@StockMarketNEWS Thu 17 Jun, 2021

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Piyush Goyal interacts with Industry on PLI Scheme on White Goods #FinanceIndia #StockMarketNEWS
Piyush Goyal interacts with Industry on PLI Scheme on White Goods New Delhi, Jun 15 (KNN) Union Commerce and Industry Minister Piyush Goyal held interaction with the Industry on Production Linked Incentive (PLI) Scheme on White Goods (ACs and LED).

The interaction was held on Monday to take the feedback on the scheme, the application window for which will be open for 3 months from tomorrow.

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 billion dollars 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 crore.

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 crore for 2021-22 to 2028-29. It extends an incentive of 4 per cent to 6 per cent on incremental sales for 5 years.

Addressing the captains of the industry, Goyal said the scheme has been introduced to produce national manufacturing champions.

"India’s Growth Story’ will be led by its flagship PLI Scheme. It will bring cost-competitiveness, Quality, Efficiency & Technology," he added.

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.

Goyal also said that the selection of the companies eligible under the scheme will be done in a transparent and time-bound manner.