NEW DELHI: The government on Wednesday announced that 15 more companies, including Adani Copper Tubes, and LG Electronics India, have been selected for the second round of the PLI scheme in White Goods.
After evaluation of the 19 applications received in the second round, 15 applicants with a committed investment of Rs 1,368 crore have been chosen, an official statement said. “These include 6 for manufacturing ACs components with committed investments of Rs 908 crore and 9 for LED lights components with committed investments of Rs 460 crore.”
These companies will have a total production value of Rs 23,960 crore over 5 years and generate direct employment of 4,300 persons, according to the statement. In the first round in November last year, 42 firms, including Daikin, Panasonic, and Havells, with committed investment of Rs 4,614 crore were selected.
Applicants provisionally selected for the scheme in the second round include Adani Copper Tubes (with a committed investment of Rs 408 crore), LG Electronics India (`300 crore), Mitsubishi Electric India, and Kaynes Technology India (Rs 50 crore each), Jindal Poly Films (`360 crore), Sahasra Semiconductors (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 a 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 Cabinet had given approval to the scheme for white goods on April 7, 2021, to be implemented from FY 2021-22 to FY 2028-29 with an outlay of Rs 6,238 crore. Altogether, the center informs, 61 applicants approved in both rounds are expected to bring investments in the component manufacturing eco-system of ACs and LED lights industry to the tune of Rs 6,632 crore and generate 46,707 jobs.