White Goods PLI Scheme Applications Under Scrutiny, No Disbursement Delay: DPIIT

ENA Sectors 2024-02-08 13:34:10 New Delhi, Feb 8 (KNN) The Department for Promotion of Industry and Internal Trade (DPIIT) is actively examining applications for claiming incentives under the Production-Linked Incentive (PLI) scheme for white goods. According to an official statement released on Wednesday, there is no delay in the disbursement process. The white goods, under the purview of the PLI scheme, include air conditioners (AC) and LED lights. Investors participating in the scheme were provided with the flexibility to choose between two gestation periods: up to March 2022 (one year) and up to March 2023 (two years). All 15 projects, companies that opted for the 2021-22 gestation period, have been successfully commissioned. Companies opting for a one-year gestation period are eligible for PLI in the current year (2023-24) based on meeting investment and sales thresholds in the preceding year (2022-23), the statement said. Their online applications are currently under examination by the Project Management Agency (PMA), with PLI disbursement expected by March 2024. There is no delay in PLI disbursement under the scheme, it added. The scheme has attracted a diverse mix of multinational and domestic companies committed to developing a robust component ecosystem within India. Thirteen foreign-owned companies, including Daikin, Panasonic, and LG, have pledged investments totalling Rs 2,090 crore, constituting approximately 30 per cent of the total committed investments. Implemented fr0m 2021-22 to 2028-29, with an outlay of Rs 6,238 crore, the PLI scheme for white goods falls under the purview of DPIIT among the government's 14 PLI schemes. IFCI Ltd, a public finance institution, has been selected as the Project Management Agency for the white goods scheme. The PLI scheme for white goods is being implemented over 2021-22 to 2028-29 with an outlay of Rs 6,238 crore. The DPIIT is implementing this scheme out of the 14 PLI schemes of the government. A key feature of the scheme is its focus on incentivising the manufacturing of components and sub-assemblies rather than finished goods. This strategic approach aims to significantly increase domestic value addition fr0m the current 20-25 per cent to 75-80 per cent by the scheme's conclusion. Under the scheme, 64 applicants with committed investments totalling Rs 6,766 crore have been approved as beneficiaries, signalling a positive trajectory for the white goods manufacturing sector in India. (KNN Bureau) 36608 https://knnindia.co.in/news/newsdetails/sectors/white-goods-pli-scheme-applications-under-scrutiny-no-disbursement-delay-dpiit 2024-02-08 13:34:10 knnindia.co.in White Goods PLI Scheme Applications Under Scrutiny, No Disbursement Delay: DPIIT