FM Brings Solar Module Mfg In PLI Ambit

Mumbai, Feb 1: With an intent to give a boost to the sunrise solar sector and to encourage domestic manufacturing, Finance Minister Nirmala Sitharaman on Tuesday extended the PLI scheme to the production of solar modules. Sitharaman has also proposed an allocation of Rs 19,500 crore in the Union Budget 2023. The government has set an ambitious target of 280 GW of solar capacity by 2030.

“To facilitate domestic manufacturing for the ambitious goal of 280 GW of installed solar capacity by 2030, an additional allocation of Rs 19,500 crore for production linked incentive for manufacture of high efficiency modules, with priority to fully integrated manufacturing units from polysilicon to solar PV modules, will be made,” the Minister said.

Sitharaman noted that the PLI scheme introduced in 14 sectors earlier had received great response. “The PLI in 14 sectors for achieving the vision of AtmaNirbhar Bharat has received excellent response, with potential to create 60 lakh new jobs, and an additional production of Rs 30 lakh crore during next 5 years,” she said.