The government on Tuesday said it has selected 15 companies, including Adani Copper Tubes, LG Electronics, Mitsubishi Electronics and Wipro, with a committed investment of Rs 1,368 crore, under the second round of white goods production linked incentives (PLI). DPIIT Additional Secretary Anil Agarwal said that out of the 15 companies, six would make AC parts with an investment of Rs 968 crore.
Agarwal said that nine companies will manufacture LED components with an investment of Rs 460 crore. These 15 firms will have a combined output of Rs 25,583 crore in the next five years. The direct employment created will be for 4,000 persons.
In the second round, 19 companies, including LG Electronics and Wipro, had filed applications with a proposed investment of Rs 1,548 crore to avail benefits under the production linked incentive scheme for white goods.
The government had conducted the first round last year and closed the applications in September. So far it has approved 46 companies before the second round. Aggarwal said the total committed investment was Rs 5,264 crore and a total of 61 companies have invested Rs 6,632 crore in both the rounds for the next five years.
He also said that 46,368 additional direct jobs will be created in five years with a generation of Rs 1,22,671 crore, and 33 out of 63 are AC (air conditioner) companies. Adani Copper Tubes will invest over Rs 408 crore, LG Electronics has committed to invest over Rs 300 crore. Mitsubishi Electronics has invested Rs 50 crore in control assembly, while Jindal Poly Films will invest Rs 360 crore and Wipro will invest Rs 12 crore in LED drivers.
The PLI Scheme for White Goods (PLIWG) was notified in April 2021 to provide financial incentives to boost domestic manufacturing and attract large investments in the white goods manufacturing value chain. Its major objectives include addressing regional inefficiencies, creating economies of scale, increasing exports, creating a strong component ecosystem and job creation.
The scheme will provide an incentive of 4-6 per cent on net incremental sales (net of taxes) of manufactured goods in the base year (FY 2019-20). India OR Net incremental sales of eligible products in the base year or FY 2020-21, whichever is higher, as the case may be and eligible companies covered under target segments for a period of five years after the base year and gestation period Are. ,
In November last year, the government had provisionally shortlisted 42 firms including Daikin, Panasonic, Syska and Havells with a committed investment of Rs 4,614 crore under the first round of the Production Linked Incentive (PLI) scheme for the white goods sector.
A total of 52 companies had filed applications under the scheme with a committed investment of Rs 5,858 crore. The scheme will be implemented over a period of seven years from 2021-22 to 2028-29 and has an outlay of Rs 6,238 crore, which was approved by the cabinet.
The government in March reopened the application window for its Rs 6,238-crore production-linked incentive (PLI) scheme for air-conditioners (ACs) and LED lights aimed at accommodating more players as several firms took the initiative. expressed interest in.
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