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Last updated: 09 Jul, 2024  

LED.thumb.jpg PLI scheme for ACs & LED lights to further push 'Atmanirbhar Bharat' goal: Industry

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IANS | 09 Jul, 2024

Industry players on Monday welcomed the Centre’s decision to reopen the application window for the production-linked incentive (PLI) scheme for white goods (ACs and LED lights), saying it will further push Prime Minister Narendra Modi's 'Atmanirbhar Bharat' goal by driving India’s growth and creating jobs.

The application window for the scheme will remain open from July 15 to October 12.

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 ACs.

Avneet Singh Marwah, CEO of Super Plastronics Pvt Ltd (SPPL) told IANS that expanding PLI schemes to include smart TVs, ACs, refrigerators and washing machines "is essential to foster broader market growth and enhance manufacturing capabilities".

"India's contribution of $3.7 trillion to the global economy, within a total of $100 trillion, coupled with its largest population of young individuals, presents substantial untapped potential. To unlock this potential, it is crucial for the government to drive local production and stimulate consumption," he added.

The Cabinet had given approval for the PLI scheme for White Goods for the manufacture of components and sub-assemblies of ACs and LED lights in 2021. 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.

In manufacturing components of LED lights, there have been investments by companies like Dixon, RK Lighting, Crompton Greaves, Stove Kraft, Chenfeng, Luker and Fulham etc.

--IANS

 
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