Voltas among 38 applicants in PLI scheme’s 3rd round for white goods | News
As many as 38 companies, including Daikin, Voltas and Blue Star have filed applications with proposed investments of Rs 4,121 crore to avail benefits under the production-linked incentive scheme for white goods in the third round, an official said on Monday.
The government in July reopened the application window for its Rs 6,238-crore production-linked incentive (PLI) scheme for air-conditioners (ACs) and LED lights to accommodate more players as several firms expressed interest in the initiative.
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Among the applicants, 20 are for AC components (Rs 3,679 crore) and 18 for LED Lights (Rs 442 crore).
Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the scheme is benefitting the sector as the value addition has increased from 25 per cent to about 50 per cent.
According to the industry, the value addition would increase to about 80 per cent in the coming years.
He said that over the next three years (till 2028-29), 38 companies are expected to achieve production of about Rs 55,877 crore for AC components and LED Lights while generating direct employment for 47,851 people.
Investment footprint under the PLI for white goods scheme has increased from 16 to 18 states/UTs including Odisha and Jammu and Kashmir. In 2022-23, the government disbursed Rs 80 crore to the beneficiary firms.
“This time, many Indian firms have come forward to avail the benefit of the scheme,” Sanjiv added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 14 2024 | 5:06 PM IST
