The Cabinet chaired by prime minister Narendra Modi on Wednesday approved two production linked incentive (PLI) schemes for air conditioners, LED lights and solar modules worth ₹10,738 crore.
PLI schemes, originally announced last year, seek to create global manufacturing champions in India by removing sectoral disabilities and creating economies of scale to develop complete component eco-systems in India. Prime Minister Narendra Modi in February invited global firms to take advantage of the ₹1.97 trillion PLI schemes for 13 sectors and expand their manufacturing in India.
While the PLI scheme for the white goods is worth ₹6238 crore, for solar modules the scheme is worth ₹4500 crore.
