PLI Scheme Draws Rs 35.16 Bn for AC and LED Component Production

23 Jan 2025 CW Team

The third round of applications for the Production-Linked Incentive (PLI) Scheme for white goods has garnered Rs 35.16 billion in committed investments. The scheme, designed to boost domestic manufacturing of air conditioner (AC) and LED light components, received 38 applications, with 18 new companies being provisionally selected. Among these, 10 manufacturers are focused on AC components, while 8 are dedicated to LED components, contributing Rs 22.99 billion in investments. Furthermore, six existing beneficiaries have upgraded to higher investment categories, contributing an additional Rs 12.17 billion to the total. These investments are expected to enhance India's manufacturing ecosystem and reduce its dependence on imports.

In total, 84 companies under the scheme have committed investments of Rs 104.78 billion, which is expected to generate production worth Rs 1.72 trillion. The scheme incentivizes incremental sales, offering benefits ranging from 6-4 per cent over a five-year period. Domestic value addition in the sector is anticipated to rise from 15-20 per cent to 75-80 per cent.

Launched in April 2021 with an outlay of Rs 62.38 billion, the scheme seeks to integrate India into global supply chains for white goods. Under the initiative, components such as compressors, heat exchangers, LED chip packaging, and light management systems will be manufactured domestically.

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