PLI scheme to boost domestic manufacturing, create more job opportunities: CEAMA

The move would also help in putting an upward thrust on the economy by bringing in large-scale manufacturing to India, the Consumer Electronics and Appliances Manufacturers Association (CEAMA) said. The Union Cabinet on Wednesday approved giving production-linked incentives worth nearly Rs 2 lakh crore to 10 sectors, including auto, pharma, telecom, textile, food product and solar PV, to boost domestic manufacturing.

Consumer electronics and appliances makers' body CEAMA on Wednesday said the Production-Linked Incentive (PLI) scheme would help to boost indigenous manufacturing in the sector and create more job opportunities in the country. The move would also help in putting an upward thrust on the economy by bringing in large-scale manufacturing to India, the Consumer Electronics and Appliances Manufacturers Association (CEAMA) said.

The Union Cabinet on Wednesday approved giving production-linked incentives worth nearly Rs 2 lakh crore to 10 sectors, including auto, pharma, telecom, textile, food product and solar PV, to boost domestic manufacturing. "The production linked incentives of Rs 1.46 lakh crore spread over 5 years will go a long way in boosting indigenous manufacturing in various sectors, including consumer durables/ white goods. This, in turn, will aid in creating more job opportunities in the country and will also put an upward thrust on the economy by bringing in large-scale manufacturing to India," CEAMA President Kamal Nandi said.

CEAMA emphasised that it is committed to promoting domestic manufacturing of appliances and consumer electronics in the country. The PLI scheme will assist in the necessary boost to the 'Make in India' initiative and support India into becoming a manufacturing hub, it added.

Panasonic India President & CEO Manish Sharma said PLI is a "game-changer" step and will give additional impetus to the government's Aatmanirbhar strategy. "Expansion of the PLI scheme to include white goods like AC & LED will also help scale up the component ecosystem and generate employment," Sharma, who is also Chairman of Ficci Electronics & Manufacturing Committee, said.

At the moment, the electronic industry is one of the fastest-growing sectors expected to reach USD 400 billion by 2025 with potential import opportunity of USD 150 billion which can be leveraged locally, he added. "We believe, the electronics industry in India can increase its potential multi-fold by 2025, with backward integration. It is important that we leverage the current times to explore new geographies for expanding the demand domain through exports with stability in policies and agility in approach," he said.