• UGI USER
  • Jul 09, 2024
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“GOVT REOPENS PLI SCHEME FOR WHITE GOODS, ENCOURAGES MORE INVESTMENT”

Why in the news?

  • Government reopens the PLI scheme for white goods till October 12, aiming to boost industry investment.
  • Scheme sees renewed interest; applicants allowed to switch segments, quarterly incentive payouts introduced.
source:scribd

About Production Linked Incentive (PLI) Scheme:

  • Production Linked Incentive (PLI) Scheme initiated by the Government of India.
  • Launched with Rs 1.97 lakh crore allocation across 14 sectors in 2021.
  • Provides performance-linked incentives to companies based on incremental sales from domestically manufactured products.
  • Aimed at boosting manufacturing, reducing imports, and enhancing economic growth.
  • Expected to stimulate production, create employment, and benefit the MSME sector significantly.
  • Sectors include Auto components, Automobile, Aviation, Chemicals, Electronic systems, Food processing, Medical devices, Metals & mining, Pharmaceuticals, Renewable energy, Telecom, Textiles & apparel, White goods.
About White goods:

  • White goods are large home appliances traditionally available in white enamel-coated sheet steel.
  • Examples include washing machines, air conditioners, stoves, refrigerators, etc.

PLI Scheme for White Goods:

  • Purpose: Designed to establish a complete component ecosystem for Air Conditioners and LED Lights in India, integrating into global supply chains.
  • Notification: Notified by the Department for Promotion of Industry and Internal Trade (DPIIT) in 2021.
  • Scope: Pan India implementation, not restricted to specific locations or population segments.
  • Implementation Period:Scheduled from FY 2021-22 to FY 2028-29, aiming for sustained growth and development in the sector.

Associated Article:

https://universalinstitutions.com/production-linked-incentive-pli-scheme/