Govt reopens application window for PLI scheme for ACs, LED lights for 90 days

The Government on Monday said it will reopen the application window for the PLI scheme for white goods, including ACs and LED lights, for 90 days from July 15
Govt reopens application window for PLI scheme for ACs, LED lights for 90 days
Govt reopens application window for PLI scheme for ACs, LED lights for 90 days

New Delhi: The Government on Monday said it will reopen the application window for the PLI scheme for white goods, including ACs and LED lights, for 90 days from July 15.

The industry has an appetite to invest more under the production-linked incentive (PLI) scheme, the commerce and industry ministry said.

The application window shall remain open from July 15 to October 12. No application shall be accepted after the closure of the application window.

In order to avoid any discrimination, both new applicants as well as existing beneficiaries of the scheme who propose to invest more by way of switching over to higher target segment, would be eligible to apply.

So far, 66 applicants with committed investment of Rs 6,962 crore have been selected as beneficiaries under the PLI scheme.

Under the guidelines of the scheme, applicants shall only be eligible for incentives for the remainder of the scheme's tenure.

"The applicant approved in the proposed third round would be eligible for PLI for maximum three years only in the case of new applicants and existing beneficiaries opting for investment period up to March 2023 seeking to move to higher investment category," it said.

Existing beneficiaries who opted for investment period up to March 2022 and seek moving to higher investment category in the proposed third round, would be eligible for PLI for maximum two years only.

Further, to maintain liquidity in the business, better working capital management, and enhance operational efficiency of beneficiaries, it has been decided to introduce the system of quarterly claims processing of PLI in place of processing of claims on annual basis.

The Union Cabinet had given approval for the PLI scheme for White Goods for manufacture of components and sub-assemblies of Air Conditioners (ACs) and LED lights on April 7, 2021.

The scheme is to be implemented over a seven-year period, from 2021-22 to 2028-29 and has an outlay of Rs 6,238 crore.

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