The government reopens application window for the PLI scheme for White Goods for 90 days from July 15, 2024

The application window for the PLI Scheme for White Goods (ACs and LED Lights) is reopening due to increased industry interest, driven by the growth in the market and confidence in local manufacturing under the PLIWG Scheme. The window will be open from July 15, 2024, to October 12, 2024. Both new applicants and existing beneficiaries seeking to invest more by switching to higher target segments or applying under different target segments can apply, provided they meet the eligibility conditions in Para 5.6 of the Scheme Guidelines and adhere to the investment schedule in Appendix-1 or Appendix-1A. The Consolidated Scheme Guidelines are available online. Applicants approved in the third round will be eligible for incentives for up to 3 years for new applicants and up to 2 years for existing beneficiaries opting for a higher investment category.

So far, 66 applicants with committed investments of US$ 834.3 million (Rs. 6,962 crore) have been selected under the PLI scheme. Notable investors in AC components include Daikin, Voltas, Hindalco, Amber, LG, Blue Star, and Johnson Hitachi. In contrast, LED component investors include Dixon, Surya, Orient, Signify, Crompton Greaves, and Halonix. These investments will boost the manufacturing of AC and LED components across the value chain, including those not currently made in India. The Union Cabinet approved the PLI Scheme on April 7, 2021, as part of the 'Atmanirbhar Bharat' initiative to promote local manufacturing, drive growth, and create jobs. The Scheme, running from FY22 to FY29, has an outlay of US$ 747.5 million (Rs. 6,238 crore).

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