Rs 6,238 Crore PLI Scheme for AC, LED Lights Reopens; Applications Invited Till Oct 14

The government has reopened the application window for the PLI scheme for AC and LED lights for 30 days. Now, this window will be open from September 15 to October 14. The Ministry of Commerce and Industry said, 'The application window is being reopened under the PLI (Production-Based Incentive) scheme for white goods. This decision has been taken based on the willingness of industries to invest more. The scheme will be implemented over a period of seven years from FY 2021-22 to FY 2028-29, and its total expenditure is Rs 6,238 crore. This is the fourth phase of the PLI scheme in the field of LED and AC.

The government issued a statement giving this information. The statement said that no application will be accepted after the application window closes. Applicants will be eligible for the PLI scheme for a maximum of two years. So far, 83 applicants with an investment of Rs 10,406 crore have been selected under the PLI scheme. The statement said that this investment will manufacture components of air conditioners and LED lights, including those components that are not currently manufactured in sufficient quantities in India. The Union Cabinet approved this scheme on April 7, 2021.

The PLI scheme, or Production Linked Incentive, is an initiative of the Government of India. The aim of which is to promote domestic manufacturing in various sectors and attract foreign investment. The scheme was first introduced in 2020 and provides financial incentives to companies that invest in India and achieve specific production and revenue targets.