42 companies selected under PLI Scheme for White Goods: Centre

According to the Central Government 42 firms out of 52 have been selected under the Production-Linked Incentive (PLI) Scheme for white goods. 26 firms would invest Rs. 3,898 crore (US$ 522.97 million) for air conditioner components and 16 firms would invest Rs. 716 crore (US$ 96.06 million) for LED component manufacturing.

Also, investments ~Rs. 4,614 crore (US$ 619.04 million) would offer additional direct employment of ~ 44,000 individuals. The net incremental production is expected to be >Rs. 81,000 crore (US$ 10.87 billion).

In line with the 'Atmanirbhar Bharat' initiatives, the government approved the PLI scheme for 13 key sectors with a total outlay of Rs. 197,291 crore (US$ 26.47 billion) to boost domestic manufacturing. The Department for Promotion of Industry & Internal Trade (DPIIT) is the nodal department for all PLI schemes.

In April 2021, the government approved the PLI scheme for the white goods for the production of components and sub-assemblies of ACs and LED Lights at an outlay of Rs. 6,238 crore (US$ 836.92 million).

After the evaluation of the applications, 42 companies have been selected as beneficiaries under the scheme.

As per the release, for the consideration of approval under the PLI Scheme, the government has advised six firms which are proposing FDI from foreign countries sharing land border with India, to submit FDI approval as a Press Note 3 (2020) issued last year. The Four companies are being sent to the Committee of Experts (CoE) for evaluation and its recommendations.

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