The government launched the Production Linked Incentive (PLI) Scheme that aim boosts the Indian manufacturing sector to become a global hub. The scheme informs financial incentives to companies whose production or sales meet a particular target for performance. The PLI Scheme also falls under the purposes of the government of reducing imports and increasing exports.
- There are different PLI Schemes in India: the following are very important: Solar PV Modules This scheme pursues increasing the manufacturing capability of high efficiency solar PV modules in India. It also aims at augmenting the application of the latest technology and development of local sourcing ecosystems.
Telecom and Networking Products
- Launched on 2021, this scheme was for investment and boosting exports in the telecom and networking industry. It will run for five years, starting 2021, until 2027.
Automobile and Auto Components
- This plan is started in 2021 for increasing the production of AAT products. This is for five years from 2022-2027.
- Still, there are many other industries under this PLI Scheme like electronics, textiles, and pharmaceuticals.
What’s New?
The Ministry of New and Renewable Energy has announced PLI for National Program on High-Efficiency solar PV Modules from the ministry for new and renewable energy from India.
This scheme has been designed to contribute towards achieving the targeted high-gigawatt manufacturing capacity of High Efficiency Solar PV modules by investments of Rs 24000 crore.
- Selection of solar PV makers will be fair. This scheme becomes a five-year production-linked incentive for confirmed solar PV module manufacturers after commissioning.
- Objective of this program is to develop an ecosystem for manufacturing such high efficiency solar PV modules indigenously and thus helping Indian Renewable Energy fully self-reliant on import dependence.
The PLI scheme has two sets of tranches – Tranche I and Tranche II.
- Tranche I: The Ministry of New and Renewable Energy has come out with the Scheme Guidelines under Tranche II of PLI Scheme for High Efficiency Solar PV Module with a total amount of Rs. 19,500 crores.
- Tranche II: The Solar Energy Corporation of India has initiated related tender document concerning solar PV manufacturers under the PLI Scheme Tranche-II for High Efficiency Solar PV Modules.
- Highly Efficient Solar PV Modules under the National Program for India Ministry of New and Renewable Energy are launch bus PLI for National Program on High-Efficiency solar PV Modules from new and renewable energy ministry, India.
- This is a scheme designed such that it contributes to the targeted gigawatt-scale manufacturing capacity of High Efficiency Solar PV modules with investments of Rs 24000 crore.
- Selection of Solar PV Makers would be on fair selection. The scheme finally becomes five-year production linked incentive for confirmed solar PV module manufacturers after commissioning.
