Over 50 Major Global, Domestic Firms Apply For PLI Scheme For ACs, LED Lights; Commit Investments Of Rs 5,866 Crore
The Centre on Thursday (16 September) said that 52 companies have applied to avail PLI scheme to incentivise the domestic manufacturing of 'White Goods' (Air conditioners and LED lights) components.
In a statement, the Ministry of Commerce and Industry said that the companies have filed their application with committed investment of Rs 5,866 crore under the PLI scheme.
The deadline for applications to avail the benefit of the scheme closed on 15 September.
Applications have been filed for production of components which are not manufactured in India presently with sufficient capacity, the ministry said.
Several companies like Daikin, Panasonic, Hitachi, Mettube, Nidec, Voltas, Bluestar, Havells, Amber, EPack, TVS-Lucas, Dixon, R.K. Lighting, Uniglobus, RadhikaOpto, Syska among others have applied for manufacturing critical components of air conditioners and LED lights.
For Air Conditioners, several companies will be manufacturing compressors, copper tubing, aluminium stock for foils, control assemblies for IDU or ODU, Display units, BLDC motors among other components.
Similarly, for LED Lights LED Chip packaging, LED Drivers, LED Engines, LED Light Management Systems, PCBs including metal clad PCBs and Wire wound inductors etc. will be manufactured in India.
The Union Cabinet had approved 'Production-Linked Incentive Scheme for White Goods (Air Conditioners and LED lights)', to be implemented over FY 2021-22 to FY 2028-29 with an outlay of Rs 6,238 crore.
The PLI Scheme on White Goods is designed to create complete component ecosystem for Air Conditioners and LED Lights Industry in India and make India an integral part of the global supply chains, the ministry said.
The scheme will extend an incentive of 4 per cent to 6 per cent on incremental sales for a period of five years subsequent to the base year and one year of gestation period. Only manufacturing of components of ACs and LED Lights will be incentivised under the scheme.
According to the ministry, Over the next 5 years, the scheme is expected to lead to total production of about Rs 2.71 lakh crore of components of ACs and LEDs and will generate around 2 lakh direct and indirect employment opportunities.
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