15 More Firms Including LG, Wipro With Committed Investments Of Rs 1,368 Crore Selected Under PLI Scheme For White Goods

by PTI - Jun 28, 2022 02:05 PM +05:30 IST
15 More Firms Including LG, Wipro With Committed Investments Of Rs 1,368 Crore Selected Under PLI Scheme For White GoodsAir Conditioner

The government on Tuesday said 15 firms, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore have been provisionally selected as beneficiaries under the production linked incentive (PLI) scheme for the white goods sector.

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

In March this year, the government had reopened the application window for its Rs 6,238-crore PLI scheme for air-conditioners (ACs) and LED lights with an aim to accommodate more players as several firms had expressed interest in the initiative. In this round, 19 companies had applied.

"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.

"These 15 companies will have total production worth Rs 25,583 crore over five years and generate additional direct employment of 4,000 persons," it said. The PLI scheme on white goods is designed to create a complete component ecosystem for ACs and LED industry in India and make India an integral part of the global supply chains.

(This story has been published from a wire agency feed without any modifications to the text. Only the headline has been changed.)

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