PLI Scheme Secures ₹3,516 Crore for AC & LED Production

With a total of 24 beneficiaries dedicating funding of Rs 3,516 crore in the third round, the PLI Scheme is poised to significantly enhance the production of Components of ACs & LED Lights across India. In the third phase of the online submission period for the Production-Linked Incentive (PLI) Scheme, a total of 38 applications were submitted. Following the assessment of these applications, the government has tentatively chosen 18 new firms.

These firms consist of 10 air conditioner component manufacturers and 8 LED light producers, with a pledged investment of Rs 2,299 crore. Moreover, 6 current PLI beneficiaries have been temporarily chosen to move up to higher investment tiers, pledging an extra investment of Rs 1,217 crore. Thirteen candidates, which include two current applicants, are being sent to the Committee of Experts (CoE) for review and recommendations. The information of applicants is included in the Annexure.

One of the candidates has chosen to withdraw from the program and has retracted the application. In total, 84 businesses under the PLI Scheme for White Goods are expected to invest Rs. 10,478 crore, leading to a production value of Rs 1,72,663 crore.

This action is anticipated to enhance the manufacturing capacity and economic development within the industry. For Air Conditioners, firms will produce parts such as compressors, copper pipes (plain and/or grooved control assemblies for IDU or ODU), heat exchangers, and BLDC motors, among others.