Government Reopens Application Window For White Goods PLI Scheme

2024-07-09 04:44:05

(MENAFN- KNN India) New Delhi, Jul 9 (KNN) The Department for Promotion of Industry and Internal Trade (DPIIT) announced on Monday that the application window for the Production-Linked Incentive (PLI) scheme for white goods will reopen for 90 days, beginning July 15.

This decision aims to provide prospective investors another opportunity to benefit from the scheme, which focuses on air conditioners and LED lights.

The DPIIT cited increased industry appetite for investment, growing market conditions, and improved confidence in domestic manufacturing of key components as reasons for reopening applications. The window will remain open until October 12.

This marks the third instance of the application window being reopened since the scheme's inception three years ago.

The initial round of applications was conducted in 2021, followed by a second round a year later due to unutilised allocated funds.

The PLI scheme for white goods, set to run until the 2028-29 financial year, has a total outlay of Rs 6,238 crore.

It aims to establish a comprehensive component ecosystem for the AC and LED light industries in India, potentially increasing domestic value addition from the current 15-20 per cent to 75-80 per cent.

To date, 66 applicants with a combined committed investment of Rs 6,962 crore have been selected as beneficiaries.

The reopened application window will be available to both new applicants and existing beneficiaries seeking to invest more by transitioning to higher target segments.

The DPIIT has outlined specific eligibility criteria for PLI benefits in this round. New applicants and existing beneficiaries opting for an investment period up to March 2023 will be eligible for a maximum of three years of PLI.

Those who previously chose an investment period up to March 2022 and now aim for a higher investment category will be eligible for a maximum of two years.

In an effort to improve operational efficiency and working capital management, the government has also decided to implement quarterly processing of PLI claims, replacing the previous annual processing system.

(KNN Bureau)

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