The Indian government has reopened the application window for the Production Linked Incentive (PLI) Scheme focusing on air conditioners (ACs) and LED lights. This move aims to bolster domestic manufacturing capabilities in these critical sectors. Here’s everything you need to know about this initiative.

Key Points

The Indian government reopens the PLI Scheme for White Goods focusing on ACs and LED lights.

Due to increased industry interest, the application window is open from July 15, 2024, to October 12, 2024.

The scheme aims to enhance domestic manufacturing capabilities and reduce import dependency.

Scheme Details

The Production Linked Incentive (PLI) Scheme for White Goods targets air conditioners (ACs) and LED lights. It aims to attract investments and boost local manufacturing in these sectors.

Eligibility and Application

New companies and existing participants can apply.

Existing companies can diversify or increase investments.

Detailed guidelines available online outline eligibility criteria and application procedures.

Incentives and Duration

Approved applicants eligible for incentives for the scheme’s duration.

New entrants and increased investments can receive incentives for up to three years.

Claims will be processed quarterly for better financial management.

Impact on Manufacturing

66 companies have committed Rs 6,962 crore under the scheme.

Investments by companies like Daikin, Voltas, LG, and others enhance local production of critical components.

Aims to boost the manufacturing of parts previously imported, supporting self-reliance.

Objectives and Implementation

It was launched under the ‘Atmanirbhar Bharat‘ initiative to promote self-reliance.

Budgeted at Rs. 6,238 crore, spanning FY 2021-22 to FY 2028-29.

Aims to stimulate economic growth, create jobs, and strengthen the industrial ecosystem.

Conclusion

The reopening of the PLI Scheme for ACs and LED lights underscores India’s commitment to fostering local manufacturing capabilities. By incentivizing investments and reducing import dependency, the scheme aims to propel the country towards self-sufficiency in the white goods sector. Interested stakeholders are encouraged to leverage this opportunity to contribute to India’s economic and industrial advancement.