Indian Government Reopens PLI Scheme Application Window for ACs
India: The Indian government has reopened the application window for the Production Linked Incentive (PLI) Scheme for White Goods, focusing on air conditioners (ACs). Interested entities can apply from July 15 to October 12. Both new companies and existing participants in the scheme can apply, with the latter eligible to invest more or switch product categories. Approved applicants will receive incentives for the scheme's remaining duration, with new applicants and additional investments eligible for up to three years. The incentives under the PLI Scheme for air conditioners include financial benefits tied to the incremental sales of products manufactured in India. Claims will now be processed quarterly, aiding better financial management. So far, 66 companies, including Daikin, Voltas, LG, Blue Star, and Dixon, have committed 83 crore USD under the PLI scheme, which aims to boost domestic manufacturing as part of Prime Minister Narendra Modi's 'Atmanirbhar Bharat' initiative. The scheme, with a budget of 75 crores USD, runs from FY 2021-22 to FY 2028-29.
Source: Business Today