Government receives 19 applications in the second stage of the PLI Scheme for AC and LED lights components – BusinessLine
LG Electronics, Mitsubishi Electric, Adani Copper Tubes, Jindal Poly films, Crompton Greaves, Wipro, Zeco Aircon and Starion India are among the companies that have applied in the second round to avail benefits under the government’s PLI scheme for the AC and LED lights components sector.
The Commerce Ministry on Tuesday said that it received 19 application for the PLI scheme for AC and LED lights in the second round of applications with commitments of investments to the tune of ₹1,548 crore. This, it said, includes proposals from eight companies for manufacturing AC components, and 11 companies for LED lights’ components.
“Over the next 5 years, these 19 companies are expected to achieve production of about ₹26,880 crore of components of ACs and LED lights and generate direct employment of 5,522 persons,” the ministry added.
For air conditioners, companies will be manufacturing copper tubing, compressors, control assemblies for IDU or ODU, heat exchangers and BLDC motors, among other components. Similarly, for LED lights, LED chip packaging, LED drivers, LED engines, LED light management systems and metallised films for capacitors will be manufactured in India, the statement added.
“Altogether, the scheme will bring investment in component manufacturing eco-system of ACs and LED lights industry to the tune of ₹7,074 crore, and generate about 2 lakh direct and indirect employment opportunities. The scheme is expected to lead to total production of components of ACs and LEDs in India of about ₹1,07,134 crore,” the Ministry added.
The Cabinet had approved the PLI scheme for white goods to be implemented over FY21 to FY29 with an outlay of ₹6,238 crore last year. In the first round, the government selected 42 applicants with committed investment of ₹4,614 crore as beneficiaries under the PLI scheme.
April 26, 2022
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