India Secures $406.2 Million Investment in Third Round of PLI Scheme for AC and LED Components
India: The third round of the Production-Linked Incentive (PLI) Scheme for White Goods in India has attracted a total commitment of ₹3,516 crore ($406.2 million), aiming to significantly enhance the production of components for air conditioners (ACs) and LED lights across the country.
A total of 38 applications were received, with 18 new companies provisionally selected. Of these, 10 are manufacturers of AC components, while eight specialize in LED light components, collectively committing investments totaling ₹2,299 crore ($265.6 million). Additionally, six existing PLI beneficiaries have been upgraded to higher investment categories, bringing an additional ₹1,217 crore ($140.6 million) into the scheme. The PLI Scheme has now attracted a total of 84 companies, set to bring in ₹10,478 crore ($121 crore) in investments over its tenure, resulting in a projected production worth ₹1,72,663 crore ($19.9 billion). This initiative is expected to significantly increase production capacity and domestic value addition in India.
Source: Economic Times