Connect with us

Headlines Of The Day

Adani. LG among 15 firms selected for white goods PLI

As many as 15 companies, including Adani Copper Tubes, LG Electronics and Crompton Greaves with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the government’s production-linked incentive (PLI) scheme for the white goods, department for promotion of industry and internal trade(DPIIT) said on Tuesday.

These applicants were selected under the second round of the PLI scheme for white goods–air conditioners (ACs) and LED lights.

Six companies will make ACs components with committed investments of Rs 908 crore, while nine companies have opted for the production of LED light components with investments of Rs 460 crore, an official statement said. The 15 companies will together produce goods worth Rs 25,583 crore over five years and generate 4,000 jobs.

The industry department had received 19 applications for the PLI scheme. Four applicants–Zeco Aircon with a committed investment of Rs 100 crore, EMM ESS Aircon (Rs 52 crore), Speedoffer India (Rs 18 crore), and SIMOCO Telecommunications (South Asia) Ltd (Rs 10.63 crore) are being referred to the committee of experts (CoE) for examination and subsequent recommendations.

Anil Agrawal, Additional Secretary, DPIIT told reporters at a media briefing that the PLI scheme is expected to help domestic value addition in these segments grow from the current 15-20 per cent to 75-80 per cent. The scheme and other regulatory measures including quality control orders, standards and labels had given a big push to the government’s Make In India and Atmanirbhar Bharat initiatives in ACs and LED segment.

Applicants provisionally selected for the scheme include Adani Copper Tubes (committed investment: Rs 408 crore), LG Electronics India (Rs 300 crore), Mitsubishi Electric India and Kaynes Technology India (Rs 50 crore each).

The list also includes Jindal Poly Films (Rs 360 crore), Sahasra Semiconductors Pvt Ltd (Rs 20 crore), Wipro Enterprises (Rs 12 crore), and Crompton Greaves Consumer Electricals (Rs 10.15 crore).

The industry department had reopened the application window for its Rs 6,238-crore PLI scheme for white goods in March, as more firms had expressed interest in the scheme.

In the first round of applications last year, 52 companies had filed their applications and 46 applicants such as Daikin, Panasonic, Syska and Havells had committed investment of Rs 5,264 crore.

Altogether, 61 applicants approved in both the rounds are expected to bring investments in the component manufacturing eco-system of ACs and LED Lights industry to the extent of Rs 6,632 crore and generate about 46,368 direct employment opportunities. The scheme is expected to lead to total production of components of ACs and LED Lights of about Rs 1.22 trillion over five years, the statement said.

The PLI Scheme on white goods is designed to create a complete component ecosystem for the ACs and LED lights industry in India, an integral part of the global supply chains. Business Standard

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2022 TV Veopar Journal

error: Content is protected !!