New Delhi [India], June 28 (ANI): A total of 15 white goods companies were approved under the second round of the Production-Linked Incentive scheme, and these companies have committed investments worth Rs 1,368 crore, said Anil Agrawal, Additional Secretary, Department for Promotion of Industry and Internal Trade on Tuesday.
"After evaluation of the 19 applications received in the second round, 15 applicants with committed investment of Rs 1,368 crore have been chosen. These include 6 for manufacturing ACs components with committed investments of Rs 908 crore and 9 for LED Lights components with committed investments of Rs 460 crore," an official statement said.
These companies are expected to produce white goods worth Rs 25,583 crore over the next 5 years while generating over 4,000 direct employment.
The first round under the PLI scheme held last year selected 46 companies out of the 52 companies that had filed applications.
Adding both the rounds, it takes the total number of companies to be benefitted under the scheme to 61 companies with a total investment of Rs 6,632 crore with a production value of Rs 122,671 crore, and employment of over 46,000 people, said Agrawal.
Of these companies, 33 are air-conditioner companies and 28 LED companies.
For air conditioners, companies will be manufacturing copper tubing, compressors, control assemblies for IDU or ODU, heat exchangers and BLDC motors among other components.
Similarly, LED lights, LED chip packaging, LED drivers, LED engines, LED light management systems and metalized films for capacitors will be manufactured in India.
As a result of the PLI, value addition in the white goods sector is expected to grow from the current 15-20 per cent to 75-80 per cent, the statement said.
On April 7 last year, the Union Cabinet had given approval to the Production-Linked Incentive (PLI) scheme for white goods (air conditioners and LED lights) to be implemented over FY2021-22 to FY2028-29, with a capital outlay of Rs 6,238 crore.
The PLI Scheme on white goods was designed to create a complete component ecosystem for the air conditioners and LED lights industry in India and make the country an integral part of the global supply chains. (ANI)