NEW DELHI: The Union cabinet on Tuesday cleared Rs 10,700 crore productionlinked incentive schemes for manufacturing high efficiency solar photo voltaic modules as well as ACs and LED lights.
The three products were among the dozen-odd categories – including auto and auto parts, electronics and mobile phones – for which the government is seeking to attract investment for domestic manufacturing under the Atmanirbhar Bharat package.
For the solar PV modules an allocation of Rs 4,500 crore has been made with Rs 6,238 allocated for ACs and LED lights. “The solar PLI scheme will lead to an annual addition of around 10,000MW in the country’s manufacturing capacity and spur direct investments of around Rs 17,200 crore,” commerce and industry minister Piyush Goyal said. The scheme for white goods, comprising ACs and LED lights, will provide incentive of 4-6% on incremental sales of goods manufactured in India for five years. “Mere assembly of finished goods shall not be incentivized,” the department for promotion of industry and internal trade said.