NEW DELHI: The government has selected 24 companies under the third round of the production-linked incentive (PLI) scheme for white goods.
These companies have committed an investment of Rs 3,516 crore to boost domestic production of critical components for ACs and LED lights.
Out of the 38 applications received in the round, 18 new companies were provisionally selected, with 10 focusing on AC components and 8 on LED light components. These new entrants are set to invest Rs 2,299 crore.
Additionally, 6 existing beneficiaries of the PLI scheme, including prominent AC and LED light manufacturers, have been chosen to scale up their investments, contributing an additional Rs 1,217 crore.
As of now, 84 companies are part of the PLI scheme for white goods, bringing in a total investment of Rs 10,478 crore. This is expected to have a significant economic impact, with an anticipated production value of Rs 1,72,663 crore, as per the government. The scheme aims to elevate India’s manufacturing capacity in these sectors, making the country a key player in the global supply chains for ACs and LED lights.
The scheme was approved by the Cabinet in April 2021 and is designed to foster domestic manufacturing of key components such as compressors, copper tubes, heat exchangers, and BLDC motors for ACs, as well as LED chip packaging, drivers, engines, and light management systems for LED lights.