The Ministry of Commerce and Industry has announced the selection of 24 companies under the Production-Linked Incentive (PLI) Scheme for White Goods in its third round. These companies have committed a cumulative investment of ₹3,516 crore to bolster manufacturing of components for Air Conditioners (ACs) and LED Lights, a move aimed at enhancing India’s self-reliance in manufacturing and reducing import dependence.
Major Highlights:
- Total Committed Investment:
- ₹3,516 crore from 24 selected companies.
- 18 new beneficiaries committed ₹2,299 crore.
- 6 existing beneficiaries pledged an additional ₹1,217 crore.
- Top Investors:
- Ram Ratna Wires Ltd: ₹253 crore.
- KRN HVAC Products Pvt Ltd: ₹141.72 crore.
- Voltas Components Pvt Ltd: ₹256.73 crore.
- Production Impact:
- Expected to generate investments worth ₹10,478 crore across all rounds of the PLI scheme for White Goods.
- Estimated to result in a production output worth ₹1.72 lakh crore during the scheme’s duration.
List of Selected Companies:
The selected companies include both new and existing beneficiaries under the PLI scheme for manufacturing critical components like compressors, heat exchangers, and LED drivers. The major contributors in this round include:
- KRN HVAC Products Pvt Ltd: ₹141.72 crore (committed to manufacturing HVAC components).
- Ram Ratna Wires Ltd: ₹253 crore (focused on wiring solutions for LED Lights and AC components).
- Voltas Components Pvt Ltd: ₹256.73 crore (investing in AC-related manufacturing).
Government’s Vision:
The PLI scheme for White Goods was launched to incentivize local manufacturing of components, which are largely imported. It aligns with the government’s ‘Make in India’ initiative to boost domestic production, create jobs, and increase exports.
With the selection of these companies, the cumulative impact of the PLI scheme across all rounds is expected to revolutionize the white goods manufacturing ecosystem in India, contributing significantly to GDP growth and employment generation.
