September 22, 2022
The PLI-II has been implemented to achieve a manufacturing capacity of 65 Giga Watt (GW) scale in High-Efficiency Solar PV Modules
This will increase exports and will bring in an investment of INR 94,000 crores
The first version (PLI-I) had an outlay of INR 4,500 crore for creating 8,700 MW of manufacturing capacity
The scheme will also generate the direct employment of 195,000 people, and indirect employment of 780,000 people
The second version of the Production Linked Incentive (PLI-II) scheme for manufacturing solar PVs worth INR 19,500 crore, is expected to save forex worth INR 1.4 trillion every year, according to Union Power Minister R K Singh.
To achieve a manufacturing capacity of 65 Giga Watt (GW) scale in High-Efficiency Solar PV Modules, the Union Cabinet approved the implementation of the second version of the PLI. The first version (PLI-I) had an outlay of INR 4,500 crore for creating 8,700 MW of manufacturing capacity, developed with the intent to make India meet its domestic manufacturing requirement of solar modules.
According to the union minister, this will result in a boost in exports and will bring in an investment of INR 94,000 crores. The scheme will also generate the direct employment of 195,000 people, and indirect employment of 780,000 people.
Experts said that the government’s focus on research and development (R&D) will further enhance the efficiency of the solar PV modules and simultaneously indigenize technology and help in raw material selection. The announcement of the PLI-II is expected to project India as a strategic global partner in the energy transition.
Source: Business Standard