Sharma sees AC industry value improves to 75% in few years from current 25%
The White Goods Manufacturing sector is expected to draw Rs.6,632 crore investment with the support of Production Linked Incentives and other supportive Government policies, according to presentations at the ‘DPIIT-FICCI Investors Roundtable’ held 22-23 July 2022.
“The Government support to provide the sector with very well thought and designed PLI will have a compounding impact on component ecosystem, taking our current value addition of 25% to 80% by 2029,” Jasbir Singh, Chairman and CEO, Amber Enterprises India Ltd, told the roundtable on White Goods Manufacturing.
“This will help our sector achieve the objective of self-reliance and will generate almost 2 lakh employment (both direct & indirect) with a total investment of Rs.6,632 crore,” said Singh, also Co-Chair, FICCI Electronics and White Goods Manufacturing Committee.
The air-conditioner (AC) industry is encouraged by the speed at which policies are introduced by the Government and the regular engagement with the industry, highlighted Manish Sharma, Chairman-CEO of Panasonic India & South Asia.
“The AC industry has seen significant progress with investments in component manufacturing,” said Sharma, also Chair, FICCI Electronics and White Goods Manufacturing Committee, Member, Steering Committee for Advancing Local Value-Add and Exports (SCALE).
“Our vision as an industry is to improve local value addition from current 25% to 75% in next few years,” he said.
Sharma also appreciated that the PLI for White Goods and LED has resulted in 61 investors setting up component manufacturing to strengthen the vision of Atmanirbhar Bharat (self-reliant India).
The importance of an Atmanirbhar Bharat has been recognized, especially in today’s world where there are disruptions in supply chain due to various factors, according to Subhrakant Panda, MD, IMFA Group (Indian Metals & Ferro Alloys Ltd – Producer).
Panda, also Senior Vice President of FICCI, highlighted India’s role in catering to the export market as a whole, and assured that the industry will work with the government and other partners in realizing the potential of this sector. fiinews.com
