Govt reopens PLI scheme for white goods to benefit more investors

Government has reopened the application window for the production-linked incentive (PLI) scheme for white goods (ACs and LED lights) in order to allow more investors to benefit from the scheme 

The window will remain open from 15 July 2024 to 12 October 2024, so that the scheme allows optimum investment. 

In fact the introduction of the PLIWG scheme has helped expand the scope for production and marketing of white goods and components of ACs and LED Lights in India.

The terms and conditions stipulated in PLIWG scheme notified on 16 april 2021 and the guidelines issued on 4 June 2021 will apply to the relaunched scheme as well.

Both new applicants as well as existing beneficiaries wanting to invest more by switching over to higher target or their group companies applying under different target segment would be eligible to apply subject to fulfilling the eligibility conditions.

However, existing investors will be eligible for incentives for the remainder of the scheme. 

New applicant approved in the proposed third round would be eligible for PLI for maximum three years while existing beneficiaries wating to move to higher target would be eligible for incentives for a maximum two years.

The relaunched scheme also allows existing beneficiaries who are unable to achieve the threshold investment or sales in a given year to  submit claims as per their original investment plan, but on a one time basis.

Further, to improve liquidity and operational efficiency of beneficiaries, ithe government has introduced quarterly claims processing of PLI in place of processing of claims on nnual basis. 

So far, 66 applicants with committed investment of Rs 6,962 crore have been selected as beneficiaries under the PLI scheme. These include air conditioner (AC) component manufacturers like Daikin, Voltas, Hindalco, Amber, PG Technoplast, Epack, Metube, LG, Blue Star, Johnson Hitchai, Panasonic, Haier, Midea, Havells, IFB, Nidec, Lucas, Swaminathan,Triton Valves etc. have invested. 

Beneficiaries under PLI scheme for manufacturing components of LE,D lights include companies like Dixon, R K Lighting, Radhika Opto, Surya, Orient, Signify, Crompton Greaves, Stove Kraft, Cosmo Films, Halonix, Chenfeng, Fulham, Adsun, Inventronix, Luker etc.