Cabinet approves PLI scheme for ACs, LEDs, high-efficiency solar PV modules

The Union Cabinet on Wednesday approved the PLI (Production-Linked Incentive) scheme for air conditioners (ACs), and high efficiency solar PV modules, said Commerce Minister Piyush Goyal while addressing media on cabinet decisions.

"Govt. led by PM @NarendraModi ji approves PLI scheme for Air Conditioners & LED lights to make manufacturing in India globally competitive. India's growth story will be led by its flagship PLI Scheme, boosting capability of local industry & job growth," Goyal tweeted as well.

The PLI scheme, which aims at boosting domestic manufacturing in the country, is a central government initiative to make the indigenous industry globally competitive and aimed at the production of high-value export-oriented items.

Also Read: Global firms expand production in India after govt woos investors with PLI scheme

The Union Cabinet had last week given its nod to a scheme to promote processed food manufacturing, with a projected cost of Rs 10,900 crore to the exchequer over the next six years.

The government had earlier granted approval to Rs 15,000 crore worth of incentives for domestic manufacturing of pharmaceuticals and also earmarked Rs 7,350 crore for the production of tablet computers, laptops, all-in-one personal computers, and servers in the country.

Overall, 13 PLI schemes are being implemented by the central government, comprising those for white goods, automobiles, textiles, IT hardware, and chemical cells.

Also Read: Cabinet approves Rs 10,900 crore PLI scheme for food processing industry