Govt. reopens PLI scheme for white goods till October 12
- The Centre has reopened the application window for the Production linked Incentive (PLI) scheme for white goods, citing industry appetite to invest more in the scheme originally launched in 2021.
KEY HIGHLIGHTS
- The Commerce and Industry Ministry said the fresh window was an “outcome of the growing market and confidence generated due to manufacturing of key components of air conditioners and LED lights” under the PLI White Goods (PLIWG) scheme.
- In order to avoid any discrimination, both new applicants and existing beneficiaries of PLIWG who propose to invest more by way of switching over to higher target segment
- or their group companies applying under different target segment would be eligible to apply,” it added.
Production Linked Incentive Scheme (PLI)
- The PLI scheme was conceived to scale up domestic manufacturing capability, accompanied by higher import substitution and employment generation.
- Launched in March 2020, the scheme initially targeted three industries:
- Mobile and allied Component Manufacturing
- Electrical Component Manufacturing and
- Medical Devices.
- Later, it was extended to 14 sectors.
- In the PLI scheme, Domestic and Foreign companies receive financial rewards for manufacturing in India, based on a percentage of their revenue over up to five years.
PRELIMS TAKEAWAY
- Production Linked Incentive Scheme