Swarajya's video: Global Firms Among 19 To Pour In Rs 1 548 Crore In Second Round Of PLI Scheme For White Goods

With major global and domestic companies powering up the government’s Production-Linked Incentive (PLI) Scheme for White Goods (Air Conditioners and LED Lights) with committed investments of Rs 1,548 crore, India is set to see production of components for ACs and LED lights worth Rs 26,880 crore over the next five years. The scheme will bring the total investment in component manufacturing eco-system of ACs and LED lights industry to the tune of Rs 7,074 crore which includes the new infusion in the second round of applications, Rs 4,614 crore cleared earlier and 911 crore of investment from six companies which have been asked to come through FDI route, all in sync with the government’s intent to attract global investments, generate large-scale employment opportunities and enhance exports substantially. The push to strengthen indigenous manufacturing is important even more in the context of global supply chain dynamics such as geo-political tensions amidst the Russia-Ukraine crisis which have bearing on import of key components and export opportunities. The second round of applications for the PLI scheme has drawn applications from 19 companies which includes eight companies for AC components, 11 companies for LED lights and global brands like LG Electronics, Mitsubishi Electric and home grown Adani Copper Tubes, Jindal Poly films, Crompton Greaves, Wipro, Zeco Aircon, Starion India and Swaminathan Enterprises. The PLI Scheme for White Goods will be implemented over FY 2021-22 to FY 2028-29 with an outlay of Rs 6238 crore, as approved by the union cabinet chaired by Prime Minister Narendra Modi on 7 April 2021 and notified by DPIIT on 16 April last year. The earlier round too saw robust participation by 42 applicants with committed investment of Rs 4,614 crore and selection as beneficiaries under the PLI scheme which included 26 for ACs manufacturing with committed investments of Rs 3,898 crore and 16 for LED lights manufacturing with committed investments of Rs 716 crore. Subscribe to Swarajya on YouTube. Get a Swarajya subscription: https://subscriptions.swarajyamag.com/join-us Website: https://swarajyamag.com/ Twitter: https://twitter.com/SwarajyaMag Facebook: https://www.facebook.com/swarajyamag