Thirty-eight companies have applied for PLI scheme under 3rd round for white goods - World News Network

New Delhi [India] October 14 (ANI): Thirty-eight companies have applied for the third round of Production linked incentive (PLI) Scheme for White Goods, said Sanjiv Joint Secretary DPIIT in an exclusive interaction with ANI.
Sanjiv said, “Over the next 3 years, these thirty-eight companies are expected to achieve production of about Rs 55,877 crore of components of air conditioners (ACs) and LED Lights and generate direct employment of 47,851.”
The investment footprint under the PLI White Goods Scheme has now increased from 16 to 18 states. Investments have been expanded to two additional states, Orissa and Jammu and Kashmir.
Eight new districts have also been added to the list making the total districts for investments from 46 to 54.
“Number of manufacturing locations have also increased by 51 bringing the total to 179, up from the previous 128. Incentives under the scheme have a healthy mix of multinational and domestic Companies”, said Sanjiv.
Additionally five new foreign Companies are investing Rs.245 Cr. apart from the existing fifteen companies who have committed investments of Rs. 2,287 Cr.
Sanjiv said, “Thirteen additional MSME Companies have also applied for the PLI scheme increasing the total number of MSMEs to thirty six, up from earlier twenty-three.”
He added, “The committed investment from MSMEs has gone up from Rs.747 crore to Rs.1,042 Cr. All thirty-six MSME Companies together Committed Investment will now be Rs.1,789 crore.”
The 3rd round of PLI for white goods also saw an interesting trend, 43 per cent of the investments are Committed from MSME companies.
The Production Linked Incentive (PLI) scheme is expected to bring an investment of INR 11,083 crore to the ACs and LED lights component manufacturing ecosystem, creating approximately 80,486 direct jobs.
Major manufacturing clusters are emerging in regions such as Noida-Greater Noida in Uttar Pradesh, Neemrana and Bhiwari in Rajasthan, Aurangabad-Pune in Maharashtra, Sanand in Gujarat, and Sri City in Andhra Pradesh, now informally known as “Cooling City.”
Sri City alone hosts 6 AC manufacturers and 12 component manufacturers. Sanjiv pointed out that prior to 2021, not a single AC compressor was produced in India. Today, the country manufactures 8 million compressors, with a domestic AC market of 1.2 million units per year.
The aim was to increase domestic value addition from 25 per cent to 75 per cent. Sanjiv shared his satisfaction that the industry has already achieved about 50 per cent domestic value addition, and with the new PLI scheme, they expect to reach 75-80 per cent before the scheme concludes in 2028-29. (ANI)

Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News