Indian Economy News

15 companies selected under 2nd Round of PLI Scheme for White Goods (ACs and LED Lights) with committed investment of Rs 1,368 crore

A total of 15 applicants have been selected under the 2nd round of the PLI scheme in White Goods. The 19 applications submitted in the second phase were evaluated, and 15 candidates with a pledged investment of Rs. 1,368 crore (US$ 174.72 million) were selected. These include six for producing parts for air conditioners with committed investments totaling Rs. 908 crore (US$ 115.97 million), and nine for components for LED lights with committed investments totaling Rs. 460 crore (US$ 58.75 million). Over a five-year period, the output of these 15 enterprises will total Rs. 25,583 crore (US$ 3.26 billion), creating an additional 4,000 direct jobs.

According to Mr. Anil Agrawal, Additional Secretary, DPIIT, the PLI scheme is likely to increase domestic value addition in certain industries from the present 15-20% to 75-80%. He claimed that Make in India and Atmanirbhar Bharat in ACs and LEDs had received a significant boost from the PLI scheme and other regulatory measures, such as quality control orders, standards, and labels.

52 companies submitted their applications in the first round, and 46 applicants were chosen, with a pledged investment of Rs. 5,264 crore (US$ 672.32 million).

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.