PLI Scheme Applications Open for ACs and LED Lights

The Indian government has reopened the application window for the Production-Linked Incentive (PLI) scheme focused on air conditioners (ACs) and LED lights. This window will be open for 30 days, starting from September 15 and closing on October 14. The decision was made to encourage increased investment in manufacturing these essential white goods in India.

According to the commerce and industry ministry, the reopening of the application window reflects the industry's appetite to invest more under the PLI scheme. This initiative aims to bolster domestic production, reduce import dependency, and promote job creation in the manufacturing sector.

Both new applicants and existing beneficiaries can apply, provided they meet specific conditions set by the government. This includes those who wish to switch to a higher target segment or those whose group companies are applying under a different target segment. However, it is crucial to note that no applications will be accepted after the window closes.

The PLI scheme has gained traction, with 83 applicants already selected, committing a total investment of Rs 10,406 crore. This significant investment is expected to enhance the manufacturing of AC and LED components, many of which are not sufficiently produced in India at present. The government's initiative is seen as a step towards self-reliance in manufacturing.

Approved by the Union Cabinet on April 7, 2021, the PLI scheme is designed to be implemented over a seven-year period, from FY 2021-22 to FY 2028-29, with an allocation of Rs 6,238 crore. The scheme aims not only to boost production but also to create a robust ecosystem for manufacturing, thereby supporting the Make in India initiative.

As the deadline approaches, potential applicants are encouraged to prepare their submissions. This is an exceptional opportunity for businesses looking to expand their operations in the white goods sector, contributing significantly to India's economic growth.