The Union Cabinet approves PLI schemes for solar modules, white goods

The Cabinet also approved a proposal of the Ministry of latest and Renewable Energy for a PLI scheme for high-efficiency solar PV modules with an outlay of ₹ 4,500 crore.

The Union Cabinet approves PLI schemes for solar modules, white goods
The Union Cabinet approves PLI schemes for solar modules, white goods

The Union Cabinet on Wednesday approved two production-linked incentive schemes for white goods (air-conditioners and LED lights) and high-efficiency solar photovoltaic modules. during a meeting chaired by Prime Minister Narendra Modi, the cupboard took another step towards vision. A government statement said that "self-sufficient India" (self-sufficient India) approvingly for the PLI scheme of ₹ 6,238 crore for air conditioners and LEDs.

“The main objective of the PLI scheme is to form manufacturing in India globally competitive by removing regional disabilities, creating economies of scale and ensuring efficiency. it's designed to make an entire component ecosystem in India and make India an integral a part of global supply chains, ”the government said. This scheme will provide an incentive to extend the sales of products in India from 4% to six for five years. . The statement said that the scheme is projected to get 4 lakh jobs in five years, with incremental investment of ₹ 7,920 crore and lead generation of 1.68 lakh crore.

The Cabinet also approved a proposal of the Ministry of latest and Renewable Energy for a PLI scheme for high-efficiency solar PV modules with an outlay of ₹ 4,500 crore. "Currently solar capacity relies on imported solar PV cells and modules as additional domestic PV. The industry has limited operating capacity of solar PV cells and modules. National program on high-efficiency solar PV modules imports in strategic areas like electricity Will reduce dependency. it'll also support the Atmanbir India initiative, "the government said.

The plan was expected to possess a further capacity of 10,000 MW of solar PV plants and an investment of about 200 17,200 crore in solar PV manufacturing projects. The scheme will provide direct employment to 30,000 people and indirect employment to 1.2 lakh.

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