As many as 19 companies, including LG Electronics and Wipro, have filed applications with proposed investments of Rs 1,548 crore to avail benefits under the production-linked incentive (PLI) scheme for white goods in the second round, the commerce and industry ministry said on Tuesday.
The government in March reopened the application window for its Rs 6,238-crore PLI scheme for air-conditioners (ACs) and LED lights with an aim to accommodate more players as several firms have expressed interest in the initiative. The ministry said that among the 19 applicants, eight are for AC components and 11 for LED Lights.
Over the next five years, these 19 companies are expected to achieve production of about Rs 26,880 crore of components of ACs and LED Lights and generate direct employment of 5,522 people, it added. Several companies like LG Electronics, Mitsubishi Electric, Adani Copper Tubes, Jindal Poly films, Crompton Greaves, Wipro, Zeco Aircon, Starion India and Swaminathan Enterprises are among companies which have applied for manufacturing components of Air conditioners and LED Lights, it said.
Also read:
Applications have been filed for the production of components which are not manufactured in India presently with sufficient capacity. "Nineteen companies have filed applications for PLI scheme for white goods in the second round of applications with committed investments of Rs 1,548 crore," it added.
The ministry said that altogether, the scheme will bring investment in the component manufacturing eco-system of ACs and LED Lights industry to the tune of Rs 7,074 crore and generate about 2 lakh direct and indirect employment opportunities. The scheme is expected to lead to a total production of components of ACs and LEDs in India of about Rs 1,07,134 crore.
Initially, online applications were received from June 15, 2021, till September 15, 2021. A total of 52 companies had filed their application. After evaluation of all the applications, 42 applicants with a committed investment of Rs 4,614 crore were selected as beneficiaries under the scheme. The online application window for the second round was open from March 10 to April 25 this year. The selection of final applicants will be done within 60 days from the date of closure of the application window.
First Published: Apr 26, 2022 8:01 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP holds meeting in Delhi as polling underway for 5th phase
May 20, 2024 4:21 PM
UP Police arrests man after viral videos shows him voting multiple times
May 20, 2024 2:18 PM