PLI in White Goods a win-win for India, Industry and People: Goyal
Admin
Jul 25, 2022 11:18
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Piyush Goyal, Hon’ble Minister for Commerce and Industry, Consumer Affairs, Public Distribution and Textiles said that the PLI scheme is being used to only encourage the industry to take the first few steps to compete in the global market and give it the initial push to bring scale to your business. Citing the example of how LED revolution was brought by removing the subsidy. “In the long-run, no country has succeeded in becoming a prosperous nation on the back of government support. In the LED programme in 2015, my first decision on file was to remove the subsidy on the bulb given by EESL. Because the budget was only 9 crores so everybody kept waiting for the subsidy and we could not go beyond six-hundred thousand bulbs in a year. After removal of the subsidy, we could encourage industry to start expanding the sale of the LED bulbs,” the minister said. The scale-up of LED production brought down the prices of LEDs significantly.
