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The government has approved investment proposals worth ?3,516 crore from 24 companies in the third round of the Production Linked Incentive (PLI) scheme for white goods, including air conditioners (ACs) and light-emitting diodes (LEDs), the Department for Promotion of Industry and Internal Trade (DPIIT) announced recently. Out of these, 18 companies were selected, including 10 AC component manufacturers and 8 LED light manufacturers, with a total committed investment of ?2,299 crore. Prominent companies such as Voltas, MIRC Electronics, and Lumax Industries are among the selected firms. In addition, six companies, including existing PLI beneficiaries, have been provisionally selected to upgrade to higher investment categories. These companies have committed an additional ?1,217 crore in investments, with Hindalco Industries, LG Electronics India, and Blue Star Climatech among them. The DPIIT also revealed that one applicant has withdrawn from the scheme. Overall, 84 companies are expected to bring in investments worth ?10,478 crore under the PLI scheme for white goods, which will lead to production valued at ?1,72,663 crore. The third round of applications was initiated to accommodate the industrys demand for further investment under the scheme. Launched in April 2021, the PLI scheme aims to build a complete component ecosystem for the AC and LED light industries, positioning India within global supply chains. The scheme will run for seven years, concluding in FY 2028-29, with a total outlay of ?6,238 crore. The first and second rounds of the scheme were conducted in 2021 and 2022, respectively, as the initial funds were not fully utilized. The third round reflects continued industry interest and the potential for further growth in the white goods sector. |
