Sixty-six companies have committed Rs.6,962cr to manufacture white goods
The Government reopens application window for PLI Scheme for White Goods for ACs and LED Lights (PLIWG) for 90 days from 15 July 2024, the Ministry of Commerce and Industry said on 8 Jul.
So far, 66 applicants with committed investment of Rs.6,962 crore have been selected as beneficiaries under the PLI scheme, said the ministry http://commerce.gov.in .
The Scheme is to be implemented over a seven-year period, from FY2021-22 to FY2028-29 and has an outlay of Rs.6,238 crore https://www.ibef.org/ .
The application reopening is in response to industry’s appetite to invest more under the Scheme, which is an outcome of the growing market and confidence generated due to manufacturing of key components of ACs and LED Lights in India under the PLIWG Scheme https://www.nseindia.com/ .
The reopened application is on the same terms and conditions stipulated in PLIWG Scheme notified on 16 April 2021 and PLIWG Scheme Guidelines issued on 4 June 2021, as amended from time to time https://www.bseindia.com/ .
The application window for the Scheme shall remain open for the period from 15 July 2024 to 12 October 2024 (inclusive) on the same on-line portal having URL as https://pliwhitegoods.ifciltd.com/.
No application shall be accepted after the closure of the application window https://www.investindia.gov.in/ .
In order to avoid any discrimination, both new applicants as well as existing beneficiaries of PLIWG who propose to invest more by way of switching over to higher target segment or their group companies applying under different target segment would be eligible to apply subject to fulfilling the eligibility conditions as mentioned in the Para 5.6 of the Scheme Guidelines and adhering to investment schedule as mentioned in Appendix-1 or Appendix-1A of the Scheme Guidelines, as applicable.
In terms of Para 6.4 of the PLIWG Scheme and Para 9.2 of the Scheme Guidelines, applicants shall only be eligible for incentives for the remainder of the Scheme’s tenure.
The applicant approved in the proposed third round would be eligible for PLI for maximum three years only in the case of new applicants and existing beneficiaries opting for investment period up to March 2023 seeking to move to higher investment category. For existing beneficiaries opting for investment period up to March 2022 seeking to move to higher investment category in the proposed third round would be eligible for PLI for maximum two years only.
Existing beneficiaries opting for the above, in case they are not able to achieve the threshold investment or sales in a given year will be eligible for submitting the claims as per their original investment plan. However, this flexibility will be provided only once during the Scheme period, said the Ministry.
Further, to maintain liquidity in the business, better working capital management, and enhance 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 Annual basis. Necessary amendments are incorporated in the Scheme Guidelines to clarify the above.
For manufacturing components of Air conditioners (ACs) companies like DAIKIN http://daikin.com , VOLTAS http://voltas.com , HINDALCO http://hindalco.com , AMBER, PG TECHNOPLAST https://www.pgel.in/ , EPACK, METTUBE, LG, BLUE STAR, JOHNSON HITACHI, PANASONIC http://holdings.panasonic , HAIER, MIDEA, HAVELLS, IFB, NIDEC, LUCAS, SWAMINATHAN, AND TRITON VALVES https://www.tritonvalves.com/ among others have invested.
Similarly, in manufacturing components of LED lights, companies like DIXON, R K LIGHTING, RADHIKA OPTO, SURYA, ORIENT, SIGNIFY, CROMPTON GREAVES http://crompton.co.in , STOVE KRAFT, COSMO FILMS, HALONIX, CHENFENG, FULHAM, ADSUN, INVENTRONIX and LUKER have invested.
These investments will lead to 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.
The Union Cabinet had given approval for the PLI Scheme for White Goods for manufacture of components and sub-assemblies of Air Conditioners (ACs) and LED Lights on 7 April 2021 in pursuance of the clarion call of the Prime Minister, Narendra Modi, for ‘Atmanirbhar Bharat’ to bring manufacturing at the centre stage and emphasise its significance in driving India’s growth and creating jobs. Fiinews.com
