Applications for incentives under the production linked incentive (PLI) scheme for white goods, including air conditioners and LED lights, are currently being examined and there is no delay in disbursement, according to a statement by the Department for Promotion of Industry and Internal Trade (DPIIT). The scheme offers two gestation periods for investors to choose from, either until March 2022 or March 2023. All 15 projects that have opted for the 2021-22 gestation period have already been commissioned.
Companies that have chosen the one-year gestation period will be eligible for PLI in the current year (2023-24) based on meeting the threshold investment and net incremental sales in 2022-23. Their online applications are currently being reviewed by the Project Management Agency (PMA), with the PLI set to be disbursed by March 2024. The PLI scheme has attracted a mix of multinational and domestic companies, all committed to developing a robust component ecosystem in India.
For the white goods scheme, the PMA selected is IFCI.
This clarification comes amidst the news that certain companies’ applications are under examination, reassuring the public that there is no delay in the disbursement of the PLI scheme incentives for white goods. The DPIIT’s statement provides transparency and clarifies the timeline for companies opting for the one-year gestation period, ensuring that they will receive their PLI disbursements by March 2024.
The PLI scheme has been a significant driver in attracting both multinational and domestic companies to invest in the white goods sector, contributing to the development of a strong component ecosystem in India. The scheme aims to boost manufacturing, increase domestic production, and create employment opportunities, cementing India’s position as a global manufacturing hub. The government’s commitment to supporting and encouraging investments in the white goods sector is evident through the implementation of the PLI scheme.
With IFCI serving as the PMA for the white goods scheme, the examination and disbursement process is expected to proceed smoothly. The DPIIT’s assurance that there is no delay in disbursement further instills confidence in companies and demonstrates the government’s dedication to facilitating a conducive business environment.
Overall, the PLI scheme’s focus on white goods, including air conditioners and LED lights, has attracted significant interest from companies looking to establish a strong manufacturing presence in India. The government’s efforts to provide incentives and support through the PLI scheme, along with efficient disbursement processes, are vital in ensuring the growth and success of the white goods sector.
