India Reopens PLI Scheme for ACs and LED Lights
The Ministry of Commerce and Industry has reopened the application window for the Production Linked Incentive (PLI) Scheme for White Goods, specifically targeting air conditioners (ACs) and LED lights.
Application Window
The new application window is open from July 15, 2024, to October 12, 2024. Both new and existing beneficiaries can apply, provided they meet the eligibility requirements.
Eligibility and Incentives
New applicants and existing beneficiaries aiming for a higher investment category with an investment period up to March 2023 will be eligible for a maximum of three years of incentives. Existing beneficiaries with an investment period up to March 2022 will be eligible for up to two years of incentives.
Quarterly Claims Processing
To improve business liquidity and operational efficiency, quarterly claims processing has been introduced instead of annual processing.
Investments and Companies
So far, 66 applicants with a total committed investment of Rs 6,962 crore have been selected as beneficiaries. Major companies like Daikin, Voltas, Hindalco, Dixon, R K Lighting, and Radhika OPTO have invested in the manufacture of AC and LED light components.
Scheme Background
The Union Cabinet approved the PLI Scheme for White Goods on April 7, 2021, in line with Prime Minister Narendra Modi’s vision of ‘Atmanirbhar Bharat’ (self-reliant India). The scheme aims to boost domestic manufacturing and is set to be implemented over seven years, from FY 2021-22 to FY 2028-29, with a budget of Rs 6,238 crore.
