Government Reopens Application Window for Production-Linked Incentive Scheme for ACs, LED Lights for 90 Days
In a bid to bolster domestic manufacturing and attract new investments, the government has announced the reopening of the application window for the production-linked incentive (PLI) scheme targeting white goods, including air conditioners (ACs) and LED lights. This move aims to provide fiscal incentives on the incremental sales of goods manufactured in India.
The Commerce and Industry Ministry stated that the application window will be open from July 15 and will remain accessible for 90 days, closing on October 12. Companies interested in participating in the scheme are urged to submit their applications within this period, as no applications will be accepted after the deadline.
The PLI scheme is designed to enhance India’s manufacturing capabilities and reduce dependency on imports by encouraging domestic production. By providing fiscal incentives based on the incremental sales of locally manufactured goods, the government hopes to stimulate growth in the AC and LED light sectors, fostering innovation and creating job opportunities.
This initiative is part of a broader strategy to make India a global manufacturing hub. The scheme’s reopening is expected to attract significant investment, promote technology transfer, and improve the quality and competitiveness of Indian-made products in the global market.
Industry experts have welcomed the move, citing it as a timely intervention that will provide much-needed support to manufacturers recovering from the economic impacts of the COVID-19 pandemic. They believe that the scheme will incentivize companies to expand their production capacities and invest in advanced manufacturing technologies.
The government’s decision to reopen the application window aligns with its commitment to fostering a favorable business environment and promoting sustainable economic growth. Interested companies are encouraged to take advantage of this opportunity to benefit from the PLI scheme and contribute to India’s manufacturing renaissance.