New Delhi, Apr 7 (UNI) The Cabinet on Wednesday approved a production-linked incentive scheme for air-conditioner and LED light sectors with an outlay of Rs 6,238 crore.
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal.
The scheme is aimed at making manufacturing in India globally competitive by removing sectoral disabilities, creating economies of scale and ensuring efficiencies, a cabinet statement said.
It is designed to create a complete component ecosystem in India and make India an integral part of the global supply chains.
The scheme is expected to attract global investments, generate large scale employment opportunities and enhance exports substantially.
It is estimated that over the period of five years, the PLI Scheme will lead to an incremental investment of Rs. 7,920 Crore, incremental Production worth Rs. 1,68,000 Crore, exports worth Rs 64,400 Crore, earn direct and indirect revenues of Rs 49,300 crore and create additional four lakh direct and indirect employment opportunities.