AC companies to manufacture copper tubing, compressors and heat exchangers
Fifteen companies, including South Korea’s LG Electronics, with committed investment of Rs.1,368 crore, have been selected as beneficiaries under the Production Linked Incentive (PLI) scheme for the white goods sector.
After evaluating 19 business proposals received in the second PLI round, 15 applicants were provisionally selected to benefit from PLI scheme, the Commerce and Industry Ministry said on 28 June 2022.
The Ministry has selected six companies for manufacturing AC components with Rs.908 crore investment commitment and nine LED industries with Rs.460 crore investment for making light components.
The 15 companies are expected to generate production worth Rs.25,583 crore over five years, it added.
The scheme is expected to lead to total production of AC and LED lights components of about Rs.122,671 crore over five years, said the Ministry.
The AC companies will be manufacturing copper tubing, compressors, control assemblies, heat exchangers, among others.
Similarly, the other manufacturers will be making LED lights, chip packaging, drivers, light management systems and metallized films for capacitors in India.
Department for Promotion of Industry and Internal Trade (DPIIT) Additional Secretary Anil Agarwal said the PLI and other regulatory measures including quality control orders, standards and labels, has boosted ‘Make In India’ and ‘Atmanirbhar Bharat’ in ACs and LEDs. fiinews.com
