PG Electroplast Limited’s step-down subsidiary, Next Generation Manufacturers Private Limited, has been approved under the Government of India’s Production Linked Incentive (PLI) Scheme for the third round of white goods manufacturing. This milestone reinforces the company’s leadership in the air conditioner components domain and its alignment with India’s “Atmanirbhar Bharat” and “Make in India” initiatives.
Key Highlights:
- Approval Details:
- The subsidiary is among 14 entities selected for the manufacturing of air conditioner components under the PLI scheme.
- Committed investment: ₹121.35 crore over five years.
- Fifth largest investment among the selected companies.
- Management Commentary:
- Vishal Gupta, Managing Director (Finance), expressed pride in the approval, calling it a “milestone that underscores the company’s commitment to becoming a global manufacturing hub.”
- Gupta also highlighted the government’s efforts to boost the industry and PG Electroplast’s investments in infrastructure, R&D, and human capital.
- About PG Electroplast:
- PG Electroplast is a leading provider of electronic manufacturing services (EMS) and contract manufacturing for top consumer durable and electronics brands in India.
- Product portfolio includes room ACs, washing machines, air coolers, and LED TVs.
- Expertise in Original Equipment Manufacturing (OEM) and Original Design Manufacturing (ODM).
PLI Scheme for White Goods: KRN, Voltas, Ram Ratna among top investors in third round
This approval is expected to enhance PG Electroplast’s competitive edge and contribute to India’s growing position as a global manufacturing hub. The company’s focus on innovation, infrastructure, and partnerships aligns well with the objectives of the PLI scheme.