BLITZ BUREAU
THE Ministry of Commerce and Industry announced on July 8 that the application window for the production-linked incentive (PLI) scheme for white goods (ACs and LED Lights) is being reopened “based on the appetite of the industry to invest more under the scheme.” The ministry said this was an outcome of the growing market and confidence generated due to the manufacturing of key components of ACs and LED Lights in India under the PLI scheme for white goods.
The application window is being opened on the same terms and conditions stipulated in the scheme notified on April 16, 2021, and the guidelines issued on June 4, 2021, as amended from time to time, the ministry said in a statement.
The application window for the scheme will remain open for the period from July 15, 2024, to October 12, 2024.
Quarterly payments
To maintain liquidity in the business, better working capital management, and enhance the operational efficiency of beneficiaries, it has been decided to introduce the system of quarterly claims processing of PLI in place of processing of claims on an annual basis.
Necessary amendments are incorporated in the scheme guidelines to clarify the above. So far, 66 applicants with committed investments of Rs 6,962 crore have been selected as beneficiaries under the PLI scheme. Daikin, Voltas, Hindalco, Amber, PG Technoplast, Epack, Mettube, LG, Blue Star, Johnson Hitachi, Panasonic, Haier, Midea, Havells and Lucas, are among the companies manufacturing components of air conditioners (ACs).
In manufacturing components of LED lights, companies like Dixon, RK Lighting, Crompton Greaves, Stove Kraft, Chenfeng, Luker and Fulham etc, have invested. These investments will lead to the manufacturing of components of air conditioners and LED lights across the complete value chain including components which are not manufactured in India presently with sufficient quantity.
‘Atmanirbhar Bharat’
The Union Cabinet had given approval for the PLI Scheme for White Goods for the manufacture of components and sub-assemblies of air conditioners and LED lights on April 7, 2021, as part of Prime Minister Narendra Modi’s ‘Atmanirbhar Bharat’ drive to bring manufacturing at the centre stage and emphasise its significance in driving India’s growth and creating jobs. The scheme is to be implemented over a seven-year period, from FY 2021-22 to FY 2028-29 and has an outlay of Rs 6,238 crore.
