The Indian government has reopened the application period for the Production Linked Incentive (PLI) Scheme for White Goods which focuses on air conditioners (AC) and LED lights. Interested entities can apply between July 15, and October 12. No application shall be accepted after the closure of the application window. The government decided to reopen applications as many companies are interested in investing more in this scheme.
Apart from the new companies, the existing companies that want to invest more or switch to different product categories are also eligible. The companies that are applying must meet specific conditions outlined in the Scheme Guidelines. As per the guidelines:
The approved applicants will receive incentives for the rest of the scheme’s duration. The new applicants and those who are making additional investments will be eligible for incentives for up to three years. Instead of annually, the claims will be made quarterly, aiding companies in better financial management. The guidelines have been updated to reflect these changes.
As of now, under this scheme, Rs 6,962 crore has been committed by the companies. Companies such as Daikin, Voltas, LG, Blue Star, and Dixon have invested in making parts for ACs and LED lights. These investments will help produce parts that were not previously made in India.
Under Prime Minister Narendra Modi’s ‘Atmanirbhar Bharat’ initiative, on April 7,2021 the PLI Scheme for White Goods was approved. The scheme aims to boost manufacturing in India, driving growth and creating jobs. It will run from FY 2021-22 to FY 2028-29, with a budget of Rs. 6,238 crore.
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