The Centre will increase the funding under the production linked incentive (PLI) scheme for domestic solar cells and module manufacturing to Rs 24,000 crore from the existing Rs 4,500 crore, Power and New & Renewable Energy Minister R K Singh. The PLI scheme encourages domestic and local production to create more jobs. It also enables foreign firms to find a workforce in the country and thereby generate employment.
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“We brought the PLI scheme (for solar cells and modules) worth Rs 4,500 crore. We invited bids, and we got a 54,500 MW manufacturing capacity of solar equipment. We asked the government to sanction Rs 19,000 crore more under the PLI, which was approved (in principle). Now we would have a PLI of Rs 24,000 crore. We would be exporting solar equipment,” Singh media reported.
