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15 more firms selected under PLI scheme for white goods

In November last year, 42 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 4,614 crore were selected.

June 28, 2022 / 04:03 PM IST
Representational Image

Representational Image

The government announced on Tuesday that 15 companies, including Adani Copper Tubes, LG Electronics, and Wipro Enterprises, have been provisionally chosen as beneficiaries under the production linked incentive (PLI) scheme for the white goods sector, with committed investments totaling Rs 1,368 crore.

In November last year, 42 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 4,614 crore were selected.

The government reopened the application window for its Rs. 6,238 crore PLI programme for air conditioners (ACs) and LED lights in March of this year in an effort to accommodate additional companies after receiving interest from a number of businesses. Nineteen businesses applied for this round.

"After evaluation of the 19 applications received in the second round...15 applicants with committed investment of Rs 1,368 crore have been provisionally selected as beneficiaries," the commerce and industry ministry said. These include six for manufacturing AC components with committed investments of Rs 908 crore and nine for LED light components with committed investments of Rs 460 crore.

According to the statement, "These 15 enterprises will produce a total of Rs 25,583 crore over the next five years and create an extra 4,000 direct jobs." The PLI white goods programme aims to integrate India into the global supply chains by developing a complete component ecosystem for the country's LED and AC industries.
Moneycontrol News
first published: Jun 28, 2022 01:23 pm
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