OPEN APP
Home / Industry / Manufacturing /  Adani Copper, LG among 15 firms selected under 2nd round of PLI for white goods

Adani Copper, LG among 15 firms selected under 2nd round of PLI for white goods

The scheme is expected to lead to a total production of components of ACs and LED lights of about  ₹1,22,671 crore over five years,. REUTERS/Kim Hong-Ji/File Photo (REUTERS)Premium
The scheme is expected to lead to a total production of components of ACs and LED lights of about 1,22,671 crore over five years,. REUTERS/Kim Hong-Ji/File Photo (REUTERS)

  • While the committed investment by the companies in the second round comes in at 1,368 crore, the total investment in both rounds by 61 companies will be 6,632 crores during the next five years

Listen to this article

New Delhi: Adani Copper Tubes Ltd, Jindal Poly Films Ltd and LG Electronics India Private Ltd are among the 15 companies that have been picked as beneficiaries under the second round of the PLI scheme for white goods, the Ministry of Commerce & Industry said on Tuesday.

While the committed investment by the companies in the second round comes in at 1,368 crore, the total investment in both rounds by 61 companies will be 6,632 crores during the next five years.

“There are some critical components used in air conditioners that are not manufactured in the country such as compressors, aluminium foils, motors, and printed circuit boards (PCBs). We do a lot of assembling in the country. The move will cut import dependency and boost component manufacturing in the domestic market. Besides, the domestic value addition in these segments is expected to grow from the current 15-20% to 75-80%," Anil Agrawal, additional secretary, DPIIT said during the press conference.

The scheme is expected to lead to a total production of components of ACs and LED lights of about 1,22,671 crore over five years, the commerce and industry ministry said in a statement.

“The scheme extends an incentive of 6% to 4% on a reducing basis on incremental sales for a period of five years subsequent to the base year and one year of gestation period. The PLI scheme on white goods is designed to create a complete component ecosystem for Air Conditioners and LED Lights Industry in India," the ministry added.

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, and LED Light Management Systems among others, the government added.

Meanwhile, Agrawal added that over 500 crores of investment under this scheme has already taken place and the scheme could generate nearly 46,368 direct employment opportunities in the next five years.

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Close

Recommended For You

×
Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout