PLI scheme for air-conditioners a game changer for industry: Panasonic Life Solutions

INDIA: According to a senior Panasonic Life Solutions India official, the Production Linked Incentive (PLI) Scheme for the air conditioner industry is proving to be a "game changer" because, in just 18 months after its introduction, the ratio of domestic value addition increased dramatically from 25% to 45%. The primary aim of the PLI initiative for air conditioners was to stimulate local component production and raise the value addition from 25% to 75% by FY28.

In November 2021, the government selected 42 companies under the PLI Scheme for white goods, of which 26 companies invested Rs 3,898 crore for air-conditioner components, and 16 firms invested Rs 716 crore for LED component manufacturing.

Source: Panasonic