PLI Scheme Attracts Rs 1,914 Crore Investment Boost for White Goods

The fourth round of applications for the PLI Scheme targeting air conditioners and LED lights received 13 proposals, totaling Rs 1,914 crore in investments, largely from MSMEs. The initiative aims to bolster AC and LED component manufacturing across India, promising significant economic growth and job creation.

The Production Linked Incentive (PLI) Scheme for White Goods, focusing on air conditioners and LED lights, has garnered 13 investment proposals totaling Rs 1,914 crore, the Ministry of Commerce and Industry announced. The latest round marks a significant engagement from micro, small and medium enterprises (MSMEs) vying to become part of the burgeoning AC and LED component market.

Out of the 13 applicants, nine aim to produce key air-conditioner parts like copper tubes and compressors, pooling Rs 1,816 crores into the industry. The remaining applicants seek to invest Rs 98 crore in manufacturing LED components such as chips and drivers. This strategic move by the Department for Promotion of Industry and Internal Trade (DPIIT) allows India to solidify its position as a key player in the global supply chain.

Since its approval in April 2021, the PLI Scheme has cultivated an investment promise of Rs 10,335 crores. These ventures are projected to yield production worth Rs 1.72 lakh crore and foster nearly 60,000 direct jobs. Ultimately, the scheme strives to enhance domestic manufacturing capabilities and drive 'Make in India' endeavors by significantly increasing local value addition.

(With inputs from agencies.)