With an outlay of Rs. 4,500 Crore for the solar PV modules, the government expects to add 10,000 MW capacity of integrated solar PV manufacturing plants in the next five years. The scheme will help to bring direct investments of around Rs. 17,200 Crore into the sector and generate 30,000 direct and 1,20,000 indirect employment opportunities.
At present India’s solar capacity addition is primarily dependent on solar panels imported from other countries. The PLI scheme for solar PV modules will help to minimize India’s solar panels dependence on imports in strategic sectors like power and electricity. Under the scheme, incentives will be provided to companies for the sale of solar PV modules and also for sourcing their materials from other suppliers in the domestic market. Hence, the scheme will increase the local value addition and boost the small and medium scale enterprises in the solar industry.