Blue Star, Voltas plan to invest Rs 3,000 cr in centre’s PLI scheme
ECONOMY & POLICY

Blue Star, Voltas plan to invest Rs 3,000 cr in centre’s PLI scheme

Multiple industry executives said Voltas, Blue Star, Dixon, China's GMCC, Amber Enterprises, Panasonic, Lloyd, and Hindalco are planning to apply for the government's production-linked incentive (PLI) scheme for air-conditioner components, which will bring immediate investments of more than 3,000 crore.

Several companies that were considering investing in the manufacturing of air conditioners expecting finished goods to be allowed have shelved their plans because this scheme is only open for the production of components, unlike in mobile phones, where finished products are also covered.

As a result, several companies that were considering investing in the manufacturing of air conditioners expecting finished goods to be allowed have shelved their plans.

On September 15, the application window for the PLI scheme for air-conditioning components closes.

While an email seeking comment on the Aditya Birla Group's Hindalco unit went unanswered as of press time on Tuesday, executives at other companies confirmed their investment plans.

Amber Enterprises, a contract manufacturer, will propose a 400 crore investment, while Blue Star will invest 250 crore to build a heat exchanger and sheet metal plant.

Dixon is forming a Joint Venture (JV) with a Japanese company to produce air-conditioning printed circuit boards. GMCC, the world's largest compressor manufacturer and a subsidiary of China's Midea Group, is building a compressor plant near Pune for around Rs 700 crore.

After the government banned the import of ACs with refrigerant, 75 to 80% of the components are now imported, whereas more than 95% of ACs are now locally manufactured.

Several large manufacturers, including Samsung, LG, Godrej Appliances, and Daikin, are still debating whether or not to apply, and industry executives predict that some will decline because the PLI scheme focuses on components rather than finished goods. The industry pushed for the scheme to include finished goods as well, and it planned to invest in both.

Image Source


Also read: PLI scheme for solar PV to attract Rs 14k cr investment

Also read: Govt approves advanced chemistry cell PLI scheme

Multiple industry executives said Voltas, Blue Star, Dixon, China's GMCC, Amber Enterprises, Panasonic, Lloyd, and Hindalco are planning to apply for the government's production-linked incentive (PLI) scheme for air-conditioner components, which will bring immediate investments of more than 3,000 crore. Several companies that were considering investing in the manufacturing of air conditioners expecting finished goods to be allowed have shelved their plans because this scheme is only open for the production of components, unlike in mobile phones, where finished products are also covered. As a result, several companies that were considering investing in the manufacturing of air conditioners expecting finished goods to be allowed have shelved their plans. On September 15, the application window for the PLI scheme for air-conditioning components closes. While an email seeking comment on the Aditya Birla Group's Hindalco unit went unanswered as of press time on Tuesday, executives at other companies confirmed their investment plans. Amber Enterprises, a contract manufacturer, will propose a 400 crore investment, while Blue Star will invest 250 crore to build a heat exchanger and sheet metal plant. Dixon is forming a Joint Venture (JV) with a Japanese company to produce air-conditioning printed circuit boards. GMCC, the world's largest compressor manufacturer and a subsidiary of China's Midea Group, is building a compressor plant near Pune for around Rs 700 crore. After the government banned the import of ACs with refrigerant, 75 to 80% of the components are now imported, whereas more than 95% of ACs are now locally manufactured. Several large manufacturers, including Samsung, LG, Godrej Appliances, and Daikin, are still debating whether or not to apply, and industry executives predict that some will decline because the PLI scheme focuses on components rather than finished goods. The industry pushed for the scheme to include finished goods as well, and it planned to invest in both. Image Source Also read: PLI scheme for solar PV to attract Rs 14k cr investment Also read: Govt approves advanced chemistry cell PLI scheme

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code