New Delhi: In a major boost to the Indian manufacturing sector, the government on Monday said that it has selected 24 companies in its third round of the production-linked incentive or PLI scheme for white goods for the sector. A total investment commitment of Rs 3,516 crore has been made, including Rs 2,299 crore from eighteen new applicants and an additional Rs 1,217 crore from six existing beneficiaries as well.
The ministry said that these companies include 10 manufacturers of components of air conditioners and 8 manufacturers of LED lights, with committed investment of Rs 2,299 crore. In addition, six existing PLI beneficiaries have been provisionally selected to upgrade to higher investment categories, committing an additional investment of Rs 1,217 crore,” the ministry said.
“For air conditioners, companies will be manufacturing components like compressors, copper tubes, and heat exchangers among others. Similarly, for LED lights, LED chip packaging, drivers, engines, light management systems and metallized films for capacitors will be manufactured in India. Altogether, 84 companies under the PLI scheme for white goods are set to bring investments of Rs 10,478 crore, resulting in production worth over Rs 1.72 lakh crore,” it added.
According to the ministry, Voltas Components has committed to invest Rs 256.73 crore to manufacture compressors. “With Rs 51.5 crore investment, MIRC Electronics has proposed to make AC products like motors and heat exchangers. The other applicants, who are provisionally selected in the third round of PLI scheme for air conditioners included Jupiter aluminium industries with a committed investment of Rs 618 crore, Ram Ratna Wires (Rs 253 crore), SMEL Steel Structural (Rs 541.29 crore), and next generation manufacturers (Rs 121.35 crore),” the ministry said.
“Similarly in the LED lights category, Lumax Industries has committed Rs 60 crore investment to make LED drivers. Uno Minda would invest Rs 19.82 crore. Out of 38 applications received during the third round, 11 are being referred to the committee of experts (CoE) for examination and its recommendations. Two existing applicants are also being referred to the committee,” it said.
“One of the applicants has decided to opt out from the scheme and has withdrawn the application. The six existing PLI beneficiaries that have been provisionally selected to upgrade to higher investment categories include Hindalco Industries (additional committed investment of Rs 360 crore), LG Electronics India ( Rs 433 crore), Blue Star Climatech (Rs 180 crore), and Voltas Ltd (Rs 200 crore),” it added.
