Comments
The Department for Promotion of Industry and Internal Trade said the PLI scheme for white goods will have a tremendous impact on the component ecosystem for ACs and LEDs in the country. DPIIT officials said that manufacturing units in nearly 50 locations will be coming up or will benefit from the PLI scheme of white goods for making components of ACs and LEDs.
These are located in States such as Gujarat, Andhra Pradesh, Goa, Himachal Pradesh, Uttar Pradesh, Uttarakhand, Karnataka, Maharashtra, Telangana, Tamil Nadu, Haryana Rajasthan and West Bengal.
The Scheme is to be implemented over a seven-year period, from FY2021 -22 to FY2028 -29 and has an outlay of ₹6,238 crores.
Speaking at the DPIIT-FICCI investor roundtable on Thursday, Anurag Jain, Secretary, DPIIT said the government is willing to look at Phased Manufacturing Plan (PMP) for the AC industry to reduce imports and increase local value-addition. He was responding to investor queries.
PLI scheme
Jain also said that DPIIT will ensure that all these investments coming up under the PLI scheme get swift approvals from the central and state government so that targets set under the PLI are achieved timely.
So far 42 applicants with committed investments of ₹4,614 crore have been provisionally selected as beneficiaries under the PLI scheme by the government.
Jain also said that DPIIT were in the process of fast tracking the national single window clearance system aimed at ease of doing business where all applications can be filed and tracked online. He added that Government is fastracking FDI applications under Press note 3.
Manish Sharma, Chair- Electronics and White Goods Manufacturing Committee, FICCI added that the PLI scheme will have a compounding impact on component landscape for the sector taking local value addition from current levels of 25% to 75% in next 4-5 years.
Six applicants proposing FDI from countries sharing land border with India have been advised to submit approval for FDI in terms of Press Note 3 (2020) for approval under the PLI Scheme. Four applicants are being referred to the Committee of Experts (CoE) for examination and its recommendations.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.