The government has approved investment proposals worth Rs 3,516 crore from 24 companies in the third round of the production linked incentive (PLI) scheme for air conditioners (ACs) and LEDs. Department for Promotion of Industry and Internal Trade (DPIIT) gave this information today.
The government has also selected 18 companies promising to invest Rs 2,299 crore. Of these, 10 companies produce AC parts and 8 companies produce LED bulbs. These 18 companies include Voltas, Merck Electronics, Lumax Industries etc.
The remaining six applicants include existing PLI beneficiaries who have been selected to upgrade to higher investment categories. These six applicants have promised an additional investment of Rs 1,217 crore, an official statement said. Companies like Hindalco Industries, LG Electronics India, Blue Star Climatetech etc. are included.
Overall, 84 companies are going to invest Rs 10,478 crore under the PLI scheme for consumer durables. This will generate production worth about Rs 1,72,663 crore. One company withdrew its application, the statement said.
The PLI scheme for consumer durables has been designed to create a complete spares ecosystem for the AC and LED light industry in the country and make India an integral part of the global supply chain.