15 more companies selected under Production Linked Incentive scheme for white goods

These 15 companies will have total production worth Rs 23,960 crore over five years and generate additional direct employment of 4,300 persons, according to the statement.

Published: 28th June 2022 04:32 PM  |   Last Updated: 28th June 2022 04:38 PM   |  A+A-

People watch Finance Minister Nirmala Sitharaman presenting Union Budget 2021-21 on television sets at an electronics store in Tirunelveli. (Photo | V Karthikalagu, EPS)

People watch Finance Minister Nirmala Sitharaman presenting Union Budget 2021-21 on television at an electronics store in Tirunelveli. (Photo | V Karthikalagu, EPS)

By Express News Service

NEW DELHI: The government on Wednesday announced that 15 more companies, including Adani Copper Tubes, LG Electronics India, have been selected under the 2nd round of the Production Linked Incentive (PLI) scheme in White Goods.

After evaluation of the 19 applications received in the second round, 15 applicants with committed investment of Rs 1,368 crore have been chosen, an official statement said. "These include six for manufacturing ACs components with committed investments of Rs 908 crore and nine for LED Lights components with committed investments of Rs 460 crore."

These 15 companies will have total production worth Rs 23,960 crore over five years and generate additional direct employment of 4,300 persons, according to the statement.

In November last year in the first round, 42 firms, including Daikin, Panasonic, and Havells, with a committed investment of Rs 4,614 crore were selected.

Applicants provisionally selected for the scheme in the second round include Adani Copper Tubes (with committed investment of Rs 408 crore), LG Electronics India (Rs 300 crore), Mitsubishi Electric India and Kaynes Technology India (Rs 50 crore each), Jindal Poly Films (Rs 360 crore), Sahasra Semiconductors Pvt Ltd (Rs 20 crore), Wipro Enterprises (Rs 12 crore), and Crompton Greaves Consumer Electricals (Rs 10.15 crore) among others.

"The PLI Scheme on White Goods is designed to create a complete component ecosystem for Air Conditioners and LED Lights Industry in India and make India an integral part of the global supply chains," says the statement by the government.

"The Scheme extends an incentive of 6% to 4% on reducing basis on incremental sales for a period of five (5) 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 Union Cabinet had given approval to the Production Linked Incentive Scheme for White Goods on 7th April 2021, to be implemented from FY 2021-22 to FY 2028-29 with an outlay of Rs 6,238 crore.

Altogether, the centre informs, 61 applicants approved in both the Rounds are expected to bring investments in component manufacturing eco-system of ACs and LED Lights industry to the tune of Rs 6,632 crore and generate approx. 46,707 direct employment opportunities.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp