These five companies are expected to achieve a total production of Rs 8,337.24 crore and generate 1,799 additional direct jobs by FY 2027–28, an official statement said.
The five companies include Kirloskar Pneumatic Company Ltd which has committed a Rs 320 crore investment, Indo Asia Copper Ltd has committed an investment of Rs 258.97 crore, while other companies selected include Godrej and Boyce Manufacturing, Kryon Technology and Pranav Vikas (India) Private Ltd.
The Union Cabinet had approved the Production-Linked Incentive (PLI) Scheme for White Goods (Air Conditioners and LED Lights) on 7 April 2021, with a total outlay of Rs. 6,238 crore, to be implemented from FY 2021–22 to FY 2028–29. The scheme was subsequently notified on 16 April 2021
The PLI Scheme for White Goods aims to create a robust domestic component ecosystem for the Air Conditioners and LED Lights industry and position India as an integral part of the global supply chains.
It offers incentives ranging from 6 per cent to 4 per cent on a reducing basis on incremental sales for a period of five years, following the base year and a one-year gestation period. Domestic Value Addition is expected to increase from the current 20–25 per cent to 75–80 per cent.
Overall, a total of 85 companies selected under the scheme are expected to make investments of Rs 11,198 crore, leading to cumulative production of Rs 1,90,050 crore over the scheme period.
For more details: https://www.pib.gov.in/PressReleasePage.aspx?PRID=2217743®=3&lang=1
