38 Firms Embrace PLI Scheme, Pledge Rs 4,121 Crore Investment for White Goods

A total of 38 companies, including Daikin and Voltas, have proposed investments totaling Rs 4,121 crore under the production-linked incentive scheme for white goods. The scheme aims to boost domestic manufacturing of AC components and LED lights, achieving significant production and employment growth by 2028-29.

As many as 38 companies, among them Daikin, Voltas, and Blue Star, have filed applications for the government's production-linked incentive (PLI) scheme, proposing investments worth Rs 4,121 crore. This move comes after the application window was reopened in July to encourage more participation from interested firms.

The government's Rs 6,238-crore PLI scheme specifically targets air-conditioners and LED lights, and it has attracted significant interest from the industry. Of the total 38 applicants, 20 submitted proposals for AC components amounting to Rs 3,679 crore, while 18 targeted LED Lights with a combined proposed investment of Rs 442 crore.

According to Sanjiv, the Joint Secretary in the Department for Promotion of Industry and Internal Trade, the scheme significantly benefits the sector, having doubled the value addition from 25% to about 50%. Over the next three years, production is expected to rise to Rs 55,877 crore, generating direct employment for nearly 48,000 people across 18 states and UTs.

(With inputs from agencies.)