84 manufacturers of White Goods commit Rs.10,478cr
With a total of 24 beneficiaries committing investment of Rs.3,516 crore in the third round, the PLI Scheme is poised to significantly boost the production of Components of ACs & LED Lights across India https://www.commerce.gov.in/.
The government has provisionally selected 18 companies which has committed Rs.2,299 crore investments. Ten of these companies are to manufacture components of Air Conditioners and 8 to make LED Lights https://www.makeinindia.com/home/.
In addition, 6 existing PLI beneficiaries have been provisionally selected to upgrade to higher investment categories, committing an additional investment of Rs.1,217 crore https://www.bseindia.com/.
Thirteen applicants including two existing applicants are being referred to the Committee of Experts (CoE) for examination and its recommendations https://www.nseindia.com/.
Altogether, 84 companies under the PLI Scheme for White Goods are set to bring investments of Rs.10,478 crore, resulting in production worth Rs.172,663 crore.
This move is expected to bolster the manufacturing capabilities and economic growth in the sector.
For Air Conditioners, companies will be manufacturing components like, compressors, copper tubes (plain and/or grooved control assemblies for IDU or ODU, Heat Exchangers and BLDC motors among others. Similarly, for LED Lights, LED Chip packaging, LED Drivers, LED Engines, LED Light Management Systems and Metallized films for capacitors etc. will be manufactured in India https://www.acrex.in/.
The Cabinet had given approval to PLI Scheme for White Goods (Air Conditioners and LED lights) to be implemented over FY 2021-22 to FY 2028-29 with an outlay of Rs.6,238 crore on 7 April 2021.
The PLI Scheme on White Goods is designed to create a robust component ecosystem for Air Conditioners and LED Lights Industry in India and make India an integral part of the global supply chains.
The Scheme extends an incentive of 6% to 4% on reducing basis on incremental sales for a period of five years subsequent to the base year and one year of gestation period. Domestic Value Addition is expected to grow from the current 15-20% to 75-80%, the Ministry of Commerce and Industry said on 20 Jan. PTI GS
