At least 15 companies, including Adani Copper Tubes, LG Electronics and Wipro, with a committed investment of Rs 1,368 crore, were Tuesday selected by the Centre under the second round of production-linked incentive (PLI) for white goods.
Out of the 15 companies, six will make AC components with an investment of Rs 968 crore. Nine companies were selected for LED Light components with committed investments of Rs 460 crore. These 15 companies will have total production worth Rs 25,583 crore over five years and generate additional direct employment of 4,000 persons.
Talking to reporters, Anil Agrawal, Additional Secretary, DPIIT said that as a result of PLI, the domestic value addition in these segments is expected to grow from the current 15-20 per cent to 75-80 per cent.
He said the PLI scheme and other regulatory measures including quality control orders, standards and labels had given a big boost to Make In India and Atmanirbhar Bharat in ACs and LEDs.
In the first round of applications, 52 companies had filed their applications and 46 applicants with committed investment of Rs 5,264 crore were selected.
Altogether, 61 applicants approved in both the rounds are expected to bring investments in component manufacturing eco-system of ACs and LED Lights industry to the tune of Rs 6,632 crore and generate 46,368 direct employment opportunities. The Scheme is expected to lead to total production of components of ACs and LED Lights of about Rs 1.23 lakh crore over five years.
The PLI Scheme on White Goods is designed to create a complete component ecosystem for air conditioners and LED Lights Industry in India and make India an integral part of the global supply chains.
The Union Cabinet had given approval to the PLI Scheme for white goods (Air Conditioners and LED lights) in 2021.