PLI scheme beneficial; looking at double-digit growth in Q3-Q4, says Whirlpool

Production-linked incentive (PLI) scheme announced by the government is beneficial for India and for the company, said Vishal Bhola, Managing Director, Whirlpool in an interview with CNBC-TV18.

“We are certainly looking at double-digit growth both for Q3 and Q4,” he said.

“For India, if we look at medium-term long-term story with the kind of penetration levels we have got in the country, that story is pretty intact. If there are no disruptions which come in on account of COVID-19, if there is no second wave, if we again have a good agricultural season like we did this year, I see no reason why we shouldn’t see a really good FY21,” he mentioned.

“During the festive season and after the festive season, the momentum seems to be continuing. There is a story of pent-up demand of all of the consumers who were not able to buy during these six weeks of lockdown have come back. We have also benefited from some of the money coming into our categories and clearly as people spend more time at home, they are wanting to make their home a better place,” he said.