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1、 0 PRODUCTION LINKED INCENTIVE SCHEMES 1 TABLE OF CONTENTS 1. Introduction . 2 2. Production Linked Incentive (PLI) Scheme . 4 3. Large-Scale Electronics Manufacturing: A PLI Success Story . 5 4. Sectoral Boost Provided by Government of India . 6 5. White Goods: Air Conditioners and LED Lights . 7 A
2、. Brief about the Sector . 7 B. Market Opportunity . 8 C. Growth Drivers . 10 D. Key Trends . 11 E. Key Clusters for AC Manufacturing and LED Lights . 12 F. Policies and Government Initiatives . 14 G. Details about the PLI Scheme . 15 6. Conclusion . 22 References . 23 Contributors . 25 PRODUCTION L
3、INKED INCENTIVE SCHEMES 2 1. IntroductionIndia, the worlds largest democracy as well as one of its biggest economies, has been on an upward growth trajectory over the recent decades. Our consistent growth rates have also been among the highest in the world and have attracted some of the most promine
4、nt foreign companies and investors. Growing economic clout has contributed to a widespread global consensus about a larger role and place for India, both in economic and geopolitical terms. While Indias service industry has time and again demonstrated its strength and innovation, the nations domesti
5、c manufacturing has been somewhat unable to keep pace. The rapidly changing dynamics of the 21st century global economy have impacted several countries including India, due to which, there have been increasing calls for India to strengthen its domestic manufacturing capacities if it were to acquire
6、a significant place in the global value chains. To this end, the Government of India has been proactively implementing policies to promote domestic industries, the most concrete instance of which took the form of the “AatmaNirbhar Bharat Abhiyan” (Self-Reliant India), launched by Prime Minister Nare
7、ndra Modi a few months ago. This one-of-its-kind campaign envisions stronger domestic industrial capacity for India while also positioning it as a major manufacturing and export hub at the world stage. Since its launch last year, the “AatmaNirbhar Bharat” initiative has witnessed significant Governm
8、ent push towards enhancing domestic industries through a slew of measures like incentives, subsidies and funding support. Among the most significant of these measures was the recent approval by the countrys Cabinet headed by Prime Minister Modi to extend the Production Linked Incentive (PLI) Scheme
9、to 10 crucial sectors of the economy. The Scheme, centered on incremental outputs, aims to strengthen manufacturing and export capacities of domestic firms and industries so as to put them at the heart of global supply chains. The main objectives of extending the PLI across different sectors are to
10、develop the core competencies of Indian industries, encourage innovative technologies, create economies of scale through efficient processes and boost their global presence through exports. As envisioned by our Prime Minister, an efficient, dynamic and resilient domestic manufacturing ecosystem is o
11、f utmost importance for India to emerge as a global manufacturing hub. By detailing the PLI Scheme for the White Goods sector, this paper aims to provide a comprehensive picture of what the Scheme entails for every specific sub-sector. A recent tweet put out by our Prime Minister sums up the PLI sto
12、ry rather well PRODUCTION LINKED INCENTIVE SCHEMES 3 PRODUCTION LINKED INCENTIVE SCHEMES 4 2. Production Linked Incentive (PLI) Scheme Benefits of Production Linked Incentive (PLI) Scheme The Production Linked Incentive (PLI) Scheme contains all the ingredients required to increase investments, empl
13、oyment generation, domestic value addition, capacity building and innovation to make India Aatmanirbhar or self-reliant. PRODUCTION LINKED INCENTIVE SCHEMES 5 3. Large-Scale Electronics Manufacturing: A PLI Success Story A significant increase in global demand for consumer electronics has given Indi
14、a an opportunity to attract foreign investments as well as encourage domestic manufacturers to focus on manufacturing consumer electronics in India under the flagship Make in India initiative of the Government. To achieve this objective, the Government has been increasing customs duty on consumer el
15、ectronics and their components to deter imports. However, in the absence of technological capabilities, mere deterrence to imports hasnt had the desired impact on domestic manufacturing. Under the National Policy on Electronics 2019, which was introduced to position India as a global hub for electro
16、nics system design and manufacturing, the Ministry of Electronics and Information Technology (MeitY) introduced a Production Linked Incentive Scheme for large-scale Electronics Manufacturing with effect from April 1, 2020. PLI Scheme extends an incentive of 4 per cent to 6 per cent on incremental sa
17、les (over base year) of goods under target segments that are manufactured in India to eligible companies, for a period of five years subsequent to the base year (FY2019-20). The Scheme was open for filing applications till 31.07.2020. Over the next five years, the approved companies under the PLI Sc
18、heme are expected to lead to total production of more than INR 10,50,000 PRODUCTION LINKED INCENTIVE SCHEMES 6 crore (USD 140.6 Bn). Out of the total production in the next five years, around 60 per cent will be contributed by exports of the order of INR 6,50,000 crore (USD 87 Bn). While the PLI Sch
19、emes have been recently launched by the government in several crucial sectors of the economy, it is important to note the impact they are creating on the ground. The most shining example of the PLI Schemes success in transforming the domestic manufacturing landscape of a specific sector can be seen
20、in the large-scale electronics manufacturing domain, where, within some months of the Schemes launch, there has been a significant rise in investments leading to higher job creation in the sector. The success of the PLI in large-scale manufacturing sets the perfect precedent for the White Goods indu
21、stry to witness similar growth and leverage the impetus provided by the PLI Scheme and expand its domestic manufacturing capacities. 4. Sectoral Boost Provided by Government of India Below is the list of ten sectors chosen for PLI Schemes in India, from which, the White Goods sector is the focus are
22、a of this paper. 1. Advance Chemistry Cell (ACC) Battery 2. Electronic/Technology Products 3. Automobiles & Auto Components 4. Pharmaceuticals drugs 5. Telecom & Networking Products 6. Textile Products: MMF segment and technical textiles 7. Food Products 8. High Efficiency Solar PV Modules 9. White
23、Goods (Air Conditioners and LED Lights) 10. Specialty Steel PRODUCTION LINKED INCENTIVE SCHEMES 7 5. White Goods: Air Conditioners and LED Lights A. BRIEF ABOUT THE SECTOR White Goods refer to heavy consumer durables or large home appliances, which were traditionally available only in white. They in
24、clude appliances such as washing machines, air conditioners, stoves, refrigerators etc. The White Goods industry in India is highly concentrated. The top five players of washing machine and refrigerator segments garner more than 75 per cent of the market share. Indian appliance and consumer electron
25、ics (ACE) market reached INR 76,400 crore (USD 10.93 Bn) in 2019. Appliances and consumer electronics industry is expected to double to reach INR 1.48 lakh crore (USD 21.18 Bn) by 2025. Indias biggest export destinations in white goods are United Arab Emirates, Sri Lanka, and the United States. Indi
26、as imports primarily come from China, Thailand, and Vietnam in the sector. The market size of Air Conditioners in India reached USD 2.1 Bn in the financial year 2020-21. Owing to the impact of global climate change and low penetration rate of only 5% in India coupled with the 2.5X increase in income
27、 per capita from 2016 to 2027 and an increase in consumer spending, the AC market is expected to grow at a CAGR of 15% over the next 7 years. The other major factors that have developed further growth opportunities in the Indian AC market are increased urbanization and disposable income, rural elect
28、rification, Government support in the form of incentives to indigenous manufacturers and revamped processes to facilitate Ease of Doing Business. These companies have also started to make investments for local manufacturing of AC components and capacity expansion. New technologies like nanoeX for in
29、hibiting bacteria and viruses along with artificial intelligence and IoT to reduce wastage of energy in the consumption of ACs are some of the recent trends in the industry. The Indian LED Lights sector encompasses different segments like automotive lighting, general lighting and backlighting in com
30、mercial, residential, and industrial applications. The sector is evolving rapidly owing to rising consumer awareness PRODUCTION LINKED INCENTIVE SCHEMES 8 about energy-efficient lighting systems, Government initiatives to boost adoption, increased focus on research and development, and integration o
31、f IoT with lighting. According to ELCOMA (Electric Lamp and Component Manufacturers Association of India), the growth rates for LED Retrofit lamps, TLED and LED Street Lights were 55%, 64% and 157% respectively in 2018. The market share for LEDs has already increased from 0.3% to 46%, with sales sur
32、passing those of incandescent, CFL and tube light lamps. In a bid to expand the penetration of LEDs to the last mile, Convergence Energy Services Limited (CESL) released a tender in March 2021 to procure 10 million LED bulbs for rural households. Large Industrial parks spread across India offer a re
33、ady ecosystem for manufacturing. B. MARKET OPPORTUNITY Air Conditioners The market size of air conditioners is expected to grow to 24 million units by 2029 from 9.8 million units in 2022 at a CAGR of 13.8% Under HS Code 8415 (air conditioner machines), in 2019-2020, USD 183 Mn was exported from Indi
34、a and USD 1047 Mn was imported. The top export destinations are UAE, Sri Lanka, and USA while the top import destinations are China, Thailand, and Japan. The PLI Scheme will include 90% of Bill of Material A major focus on components in the PLI will lead to an increase in local value addition from t
35、he current level of 25% to 85% by 2028 LED Lights Indian LED market is expected to grow at an average CAGR of 18% across all applications to reach nearly USD 8.2 billion by 2024. India is the second largest market globally and fastest growing market in Asia-Pacific The automotive sector is expected
36、to be the fastest growing LED application area at 21per cent CAGR. General lighting, backlighting, signal and signage are other common applications of LED lights in India. India imports approximately INR 12,000 crore (USD 1.6 Bn) worth of LED Lights components every year. A major focus of the PLI wi
37、ll be to increase the local value addition from 25% to 85% by 2028. The PLI will cover 87% of the Bill of Material for the LED sector PRODUCTION LINKED INCENTIVE SCHEMES 9 Indian LED Market (in USD Bn) PRODUCTION LINKED INCENTIVE SCHEMES 10 C. GROWTH DRIVERS Air Conditioners Indias Growing Consumer
38、Demand: Indias middle class is estimated to be double from 2015-16 to 547mn individuals by 2026 and the per capita income is expected to grow more than two-fold by 2027. A 3x growth in well-to-do household segments will expand demand. Consumer spending is also positioned to increase from $1.5tn to $
39、6tn by 2030. Growing ecosystem: Recent regulations to ensure quality imports into the country by way of restricting import of CBUs with refrigerants is also envisaged to boost the domestic manufacturing ecosystem of refrigerants. LED Lights Government Incentives: The sector is receiving significant
40、push for adoption from Central and State Governments through Schemes like UJALA (Unnat Jyoti by Affordable LEDs for All) and SLNP (Street Lighting National Programme). BS VI norms and shift towards electric mobility: LEDs reduce engine load, are 75-90 per cent more energy efficient than other lighti
41、ng and improve safety features in electric vehicles. LED Daytime Running Lights (DRLs): Growth of LED daytime running lights in both 2W and 4W segments for automobiles is expected to boost demand. D. KEY TRENDS Air Conditioners Strong balance sheets despite COVID-19: Credit metrics remain strong for
42、 most of the large AC manufacturers despite the COVID-19 pandemic with an average debt/equity ratio at 0.22 in 2021. Capex trends in the AC industry: Havells has incurred a major capex on the Lloyd acquisition in FY18 and has still managed to maintain a healthy cash on PRODUCTION LINKED INCENTIVE SC
43、HEMES 11 books. Amber, a contract manufacturer of air-conditioners has incurred a capex of INR 2Bn over the past two years for capacity expansion and land acquisition. Rise of White Goods demand: With the onset of summer season of 2021 and the new normal of work from home, all the major companies wi
44、tnessed an increase in demand for ACs during the Q4 of the financial year. The demand is not only in Tier 1 cities but from Tier 2, Tier 3 cities, and rural areas as well. LED Lights Increasing awareness and adoption of energy efficient lighting: As of 2021, distribution of 370 million LED bulbs und
45、er UJALA has been undertaken by EESL (Energy Efficiency Services Limited), with estimated energy savings of 47.65 billion kWh/year and GHG emission reduction of 38.59 million tonnes CO2 per year. Growth in domestic market: Along with Government initiatives like the UJALA Programme, the domestic LED
46、market has grown with the industry selling over 1.15 billion LEDs, exceeding the UJALA programmes target of 700 million LED units. Growth in outdoor lighting application: Installation of 140 million LED streetlights under SLNP has been completed. By 2024, EESL plans to bring investment to the tune o
47、f USD 1.1 billion by covering entire rural India under SLNP. PRODUCTION LINKED INCENTIVE SCHEMES 12 E. KEY CLUSTERS FOR AC MANUFACTURING AND LED LIGHTS Manufacturing footprint in India PRODUCTION LINKED INCENTIVE SCHEMES 13 Key Clusters for LED Lights PRODUCTION LINKED INCENTIVE SCHEMES 14 F. POLICI
48、ES AND GOVERNMENT INITIATIVES 100 percent FDI through automatic route in the Indian White Goods sector. Reduced corporate income tax: Any new domestic company incorporated on or after 1st October 2019 making fresh investment in manufacturing, to pay income-tax at the rate of 15 per cent which is com
49、petitive with similarly positioned economies in South East Asia Ban of completely built units: In October 2020, import of all types of air-conditioners with refrigerants have been now put in the “prohibited” category from the “free” category. The Unnat Jyoti by Affordable LEDs for All (UJALA) Scheme
50、 was launched in 2015 with a target of replacing 770 million incandescent lamps with LED bulbs. Over 361 million LED bulbs, 7.1 million LED tube lights and 2.3 million energy efficient fans have been distributed across the country, saving around 47 billion kWh per year. Around INR 18,935 crore (USD
51、2.5 Bn) per year in electricity bills of consumers was saved Formation of a SCALE (Steering Committee for Advancing Local Value-Add and Exports) Committee: A Working Group under the Ministry of Commerce & Industry has been constituted with industry members to boost local value addition, strengthen e
52、xport capabilities, and enhance the manufacturing ecosystem of Air Conditioners, the progress under which is regularly reviewed under the Chairmanship of Dr. Pawan Goenka. PRODUCTION LINKED INCENTIVE SCHEMES 15 G. DETAILS ABOUT THE PLI SCHEME The PLI Scheme for this sector will attract large investm
53、ents to further boost domestic manufacturing in the Air Conditioners and LED Lights segment. Aim: The prime objective of the PLI Scheme is to make manufacturing in India globally competitive by removing sectoral disabilities, creating economies of scale and ensuring efficiencies. It is designed to c
54、reate 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. Impact: It is estimated that over the period of five years,
55、the PLI Scheme will lead to: Exports worth INR 64,400 Crore (USD 8.8 Bn), Direct and indirect revenues of INR 49,300 crore (USD 6.6 Bn) An additional 100 thousand direct and indirect employment opportunities Implementing Ministry/ Department: Department for Promotion of Industry and Internal Trade,
56、Ministry of Commerce and Industry Approved financial outlay over a five-year period: INR 6238 crore (USD 855 Mn) Details: The Scheme will extend an incentive of 4-6 per cent on net incremental sales over base year (2019-20) on the eligible products to approved companies for a period of five years. D
57、ifferent components for ACs and LEDs have been bucketed into specific target segments to attract investments and augment domestic manufacturing capabilities. Selection of companies for the Scheme shall be done with the objective to incentivize manufacturing of components or sub-assemblies which are
58、not manufactured in India presently with sufficient capacity. Mere assembly of finished goods shall not be incentivized. Companies meeting the pre-qualification criteria for different target segments will be eligible to participate in the Scheme. Incentives shall be available to companies making eit
59、her brownfield or greenfield investments. PRODUCTION LINKED INCENTIVE SCHEMES 16 An entity availing benefits under any other PLI Scheme of Government of India will not be eligible under this Scheme for the same products. However, the entity may continue to avail benefits under other applicable Schem
60、es of the Government of India or State Governments. The Scheme will be implemented pan-India and is not specific to any location, area, or segment of population. Eligibility: An applicant can be any company that should be incorporated in India under the provisions of the Companies Act, 2013. This Sc
61、heme is open to global and domestic companies and is fund limited: 1. For Air Conditioners - net incremental sale of eligible product(s) upto 5 times of the cumulative threshold investment in the previous financial year 2. For LED Lights - net incremental sale of eligible product(s) upto 6 times of
62、the cumulative threshold investment in the previous financial year Tenure: The Scheme will be valid for 5 years (FY 2021-22 to FY 2028-29). Additionally, an applicant may opt for any one of the following initial investment periods (gestation period) - i. 1st April 2021 to 31st March 2022 ii. 1st Apr
63、il 2021 to 31st March 2023 Pre-qualification criteria: Threshold investment prescribed for eligibility: Gross Block: Gross Value of Plant, Machinery and Equipment in the audited financial statements: 50% of threshold investment Global Manufacturing Revenue: Consolidated Revenue, both in India and ov
64、erseas, in the audited financial statement in the Base Year i.e., 01 April 2019 to 31st March 2020: i. 5 times of threshold investment for Large Investment category ii. 4 times for Normal Investment category PRODUCTION LINKED INCENTIVE SCHEMES 17 Net Worth: Aggregate value of the paid-up share capit
65、al and all reserves created out of the profits and securities premium account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the audited balance sheet: 30% of threshold investment Target Segments: Air Conditi
66、oners Sl. Target Segment Eligible Products 1. ACs (Components) (i) High value Intermediates of ACs (ii) Low Value Intermediates of ACs (iii) A combination of (i) and (ii) 2. High Value Intermediates of ACs (i) Compressor (ii) Copper Tube (plain and/or grooved) (iii) Aluminum Stock for Foils or Fins
67、for heat exchangers 3. Lower Value Intermediates of ACs (i) Control Assemblies for IDU or ODU or Remotes (ii) Display panel (LCD/LED) (ii) Motors (iii) Cross Flow Fan (CFF) (iv) Valves & Brass components (v) Heat exchangers (vi) Sheet Metal components PRODUCTION LINKED INCENTIVE SCHEMES 18 (vii) Pla
68、stic Moulding components LED Lights Sl. Target Segment Eligible Products 1. LED (Core Components) (i) LED Chip Packaging (ii) Integrated Circuits (ICs) (iii) Resistors (iv) Fuses (v) Large scale investments in LED components 2. LED (Components) (i) LED Chips (ii) LED Drivers (iii) LED Engines (iv) L
69、ED Modules (v) Printed Circuit Boards (PCB) (vi) Mechanicals- Housing (vii) Wire Wound Inductors (viii) Drum Cores (ix) Heat Sinks (x) Diffusers (xi) Ferrite Cores (xii) LED Light Management Systems (LMS) PRODUCTION LINKED INCENTIVE SCHEMES 19 Eligibility Threshold Investment & Net Incremental Sales
70、 for ACs Illustrated for Applicants opting for initial investment period as 1 April 2021 to 31 March 2022 SI. Target Segment Year PLI MIN. Cum. Incr. Investment MIN Net Incr. Sale MIN. Cum. Incr. Investment MIN Net. Incr. Sale (1) (2) (3) (4) (5) (6) (7) (8) LARGE INVESTMENT NORMAL INVESTMENT 1 ACs
71、(Components) 2021-22 150 50 2022-23 6% 300 750 100 250 2023-24 6% 400 1500 150 500 2024-25 5% 500 2000 225 750 2025-26 5% 600 2500 300 1125 2026-27 4% 3000 1500 2027-28 Total 600 9750 300 4125 2 High Value Intermediaries of ACs 2021-22 50 50 2022-23 6% 125 250 100 250 2023-24 6% 200 625 150 500 2024
72、-25 5% 300 1000 200 750 2025-26 5% 400 1500 250 1000 2026-27 4% 2000 1250 2027-28 Total 400 5375 250 3750 3 Lower value intermediaries of ACs 2021-22 20 10 2022-23 6% 40 100 20 50 2023-24 6% 60 200 30 100 2024-25 5% 80 300 40 150 2025-26 5% 100 400 50 200 PRODUCTION LINKED INCENTIVE SCHEMES 20 2026-
73、27 4% 500 250 2027-28 Total 100 1500 50 750 Eligibility Threshold Investment & Net Incremental Sales for LED Lights Illustrated for Applicants opting for initial investment period as 1 April 2021 to 31 March 2022 SI. Target Segment Financial Year PLI MINM. Cum. Incr. Investment MIN Net. Incr. Sale M
74、INM. Cum. Incr. Investment MIN. Net Incr. Sale (1) (2) (3) (4) (5) (6) (7) (8) LARGE INVESTMENT NORMAL INVESTMENT 1 LED Lights (Corecomponents) 2021-22 100 20 2022-23 6% 150 600 40 120 2023-24 6% 200 900 60 240 2024-25 5% 250 1200 80 360 2025-26 5% 300 1500 100 480 2026-27 4% 1800 600 2027-28 Total
75、300 6000 100 1800 2 Components of LED Lights 2021-22 5 2 2022-23 6% 10 30 4 12 2023-24 6% 15 60 6 24 2024-25 5% 20 90 8 36 2025-26 5% 25 120 10 48 2026-27 4% 150 60 2027-28 Total 25 450 10 180 PRODUCTION LINKED INCENTIVE SCHEMES 21 FAQ: 1. Who can be an Applicant under the Production Linked Incentiv
76、e Scheme for White Goods (PLI-WG Scheme)? Any company incorporated in India and as defined in the Companies Act 2013, proposing to manufacture one or more eligible product(s) under the specified target segment. 2. Whether an applicant can apply for more than one Target Segments & Eligible Products?
77、One entity may apply for any one category under one target segment only. However, separate Group companies may apply for different target segments. 3. Whether a beneficiary under other PLI Scheme of Government of India can avail benefits for the same products under the PLI-WG Scheme? No. Such applic
78、ant shall not be eligible under the PLI-WG Scheme. However, the applicant can continue to avail incentives under other Central/ State Schemes. 4. What are the investment categories under each target segment? An applicant can apply under any one of following investment categories for any one target s
79、egment: (i) Large Investment (ii) Normal Investment 5. What is Initial Investment Period (Gestation Period)? An applicant may opt for any one of the following initial investment periods (i) 1st April, 2021 to 31st March, 2022 OR (ii) 1st April, 2021 to 31st March, 2023 6. Is Investment on Land and B
80、uilding covered under the Scheme? The Investment in land and building (including factory building or construction) required for the project or unit is not covered and shall hence, not be considered for determining eligibility under the Scheme. 7. Does an applicant proposing to manufacture more numbe
81、r of components in the entire value chain have higher priority in selection? A single applicant proposing to manufacture more components in the entire value chain will have the higher priority in selection. 8. Is investment in used plant & machinery an eligible investment? No. Investment in second h
82、and/ used/ refurbished plant, machinery, equipment, utilities shall not be considered as eligible investment. 9. What will be the threshold net incremental sales if an applicant makes higher investment than the threshold investment? PRODUCTION LINKED INCENTIVE SCHEMES 22 In case an applicant makes h
83、igher investment than the threshold investment, the threshold incremental sale to be achieved by the applicant for achieving eligibility for incentive shall remain same for respective target segment as specified in Appendix-I or Appendix-IA of the Scheme guideline, as the case may be. 10. Does Capti
84、ve Consumption of eligible products form part of Net Sales Turnover? Yes. Captive Consumption of eligible products shall form part of Net Sales Turnover. 11. Which Heads of eligible investment are capped and to what extent? a) Investment in Research & Development shall not exceed 15% of the total co
85、mmitted investment. b) Investment in Transfer of Technology shall not exceed 5% of the total committed investment. 12. What would comprise R&D investments? Investment in Research and Development under these Guidelines shall include capital Investment on R&D and product development related to Target
86、Segments and exclude the revenue expenditure. 13. Do the Value-Added Resellers qualify under the Scheme? No. Value-Added Resellers do not qualify under the Scheme. 14. What is the amount of Application fee? The amount of non-refundable application fee is Rs. 1,00,000/- . 6. Conclusion This paper des
87、cribed the PLI Scheme for the White Goods sector which was recently approved by the Union Cabinet. The assessed benefit of introducing PLI in AC and LED industries will mean that a number of global and domestic companies, including numerous MSMEs are likely to benefit from the Scheme. It is expected
88、 to be instrumental in achieving growth rates that are much higher than existing ones for AC and LED producing industries, develop complete component eco-systems in India and create global champions manufacturing in India. They will have to meet the compulsory BIS and BEE Quality standards for sales
89、 into the domestic market and also the applicable standards for global markets. The PLI Schemes will also lead to investments in innovation, research and development and upgradation of technologies developed and deployed by this sector. PRODUCTION LINKED INCENTIVE SCHEMES 23 This is in addition to P
90、LI Schemes for 10 other major sectors of the Indian economy chosen to spearhead the step towards the vision of “AatmaNirbhar Bharat Abhiyan”. This Scheme has been announced as part of the larger, ongoing campaign by the Indian government to promote resilience in domestic industries and strengthen th
91、eir export capacities to ensure that India becomes an integral pillar in the global value chains. The “AatmaNirbhar Bharat Abhiyan” was launched last year by Prime Minister Narendra Modi in the context of the global coronavirus pandemic that continues to significantly affect lives and livelihoods. I
92、t further led to a growing consensus about reducing over-dependence on a handful of countries for global supplies and promoting better capacities in domestic industries so they can cushion against future external shocks like disasters and pandemics. As a part of the “AatmaNirbhar Bharat Abhiyan,” th
93、e widening of PLI Scheme to a vast array of sectors provides immense scope for Indian manufacturing to bolster and prosper. References https:/pib.gov.in/PressReleasePage.aspx?PRID=1662096 https:/pib.gov.in/PressReleasePage.aspx?PRID=1662096 https:/ BCG Reports IBEF Reports https:/transformingindia.m
94、ygov.in/scheme/ujala/ https:/pib.gov.in/PressReleasePage.aspx?PRID=1710116#:text=The%20PLI%20Scheme%20for%20White,Air%20Conditioners%20and%20LED%20Lights.&text=Incentives%20shall%20be%20open%20to,field%20or%20green%20field%20Investments https:/pib.gov.in/PressReleasePage.aspx?PRID=1710116#:text=The%
95、20PLI%20Scheme%20for%20White,Air%20Conditioners%20and%20LED%20Lights.&text=Incentives%20shall%20be%20open%20to,field%20or%20green%20field%20Investments https:/pib.gov.in/PressReleseDetail.aspx?PRID=1686309 http:/ PRODUCTION LINKED INCENTIVE SCHEMES 24 https:/ https:/www.carbonbrief.org/guest-post-ho
96、w-energy-efficient-led-bulbs-lit-up-india-in-just-five-years FACTIVA Report: Indian Consumer Durables Air Conditioners: Push for localisation, Dolat Capital Research Industry Consultations and Interviews BCG Reports and Analysis PRODUCTION LINKED INCENTIVE SCHEMES 25 PRODUCTION LINKED INCENTIVE SCHEMES 26