The approved the production-linked incentive (PLI) plan for white goods (air conditioners and LED lights) with a budget of Rs. 62.38 billion. Highlights:
The PLI plan for goods manufactured in India will provide companies engaged in the manufacture of air conditioners and LED lights with incentives of 4% to 6% for the incremental sales of goods manufactured in India within five years.
Entities that enjoy benefits under other government PLI programs. India will not be eligible for this program. It will be implemented as a pan-India plan.
The plan may benefit many global and domestic companies, including many small and medium enterprises.