24 companies for AC, LED PLI worth Rs. Investment of Rs 3,516 crore approved

Mumbai: In the third round of the Production Linked Incentive (PLI) scheme for air conditioners (ACs) and LEDs, the government has awarded 24 companies an award of Rs. Investment proposals worth Rs 3,516 crore have been approved. The Department for Promotion of Industry and Internal Trade gave this information.

Government Rs. 18 companies promising to invest Rs 2,299 crore have also been selected. Of these, 10 companies make AC parts and 8 companies make 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 a higher investment category. These six applicants paid Rs. Additional investment of Rs 1,217 crore has been guaranteed.

Overall, 84 companies have received Rs. 100 crore under the PLI scheme for consumer durables. There is going to be an investment of Rs 10,478 crore. This is approximately Rs. Rs 1,72,663 crore will be produced. One company has withdrawn its application.

The PLI scheme for consumer durables is 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.