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Incentives

Take Advantage from 
PLI Scheme and Boost Your Manufacturing Business

The Government of India, with an objective to boost indigenous manufacturing in the country, notified Production Linked Incentive (PLI) Scheme on 1st April, 2020. 

The scheme aims to attract large-scale investments into the Indian manufacturing sector and make India a global manufacturing hub

About Scheme

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Approved Financial Outlay for Sectors

Initially, the scheme was announced for mobile phones and accessories, pharma products such as APIs, KSMs & DIs and medical device manufacturing sectors. The government shall provide financial incentives of 4% to 6% to mobile manufacturing industries on incremental sales over the next five years with FY 2019-2020 as the base year. Pharma manufacturing industries shall get incentives of up to 20% under the scheme over the next ten years. The government shall provide incentives of 5% to medical device manufacturing industries over the next seven years.

Recently Approved Sectors

The central government has recently decided to extend the scheme for ten more sectors with an outlay of Rs. 1.46 lakh crores over the period of the next five years.   
     
The sectors for which the PLI scheme has been extended recently include advance chemistry cell (ACC) battery, electronic/technology products, automobiles & auto-components, pharmaceutical drugs, telecom & networking products, textile, food, high efficiency solar PV modules, white goods (ACs and LEDs) and speciality steel.   
     
Among the recently approved sectors, automobile and auto components segment has received maximum incentives worth of Rs. 57,042 crores, followed by advance chemistry cell battery and pharmaceutical drugs that received Rs. 18,100 crores and Rs. 15,000 crores, respectively.  

The scheme will help domestic manufacturers enhance their manufacturing capabilities, increase exports and attract foreign investments into the Indian manufacturing sector, making India a key player in the global manufacturing landscape.  
The PLI scheme by attracting global OEMs into the country will help to create an ecosystem for small players in India where they can thrive, capitalizing on the huge domestic market.  

To know more about the eligibility criteria of the scheme and how to apply, kindly register with SolutionBuggy and get assistance from industry experts.