Govt re-opens application window – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-news/govt-re-opens-application-window/article65202803.ece

Prospective investors get another chance to apply between March 10 and Apr 25

The government has reopened the application window for the Production Linked Incentive (PLI) scheme for white goods — which includes ACs and LED lights — from March 10 to April 25, 2022, giving another chance to prospective investors who failed to apply the first time round last year.

Remaining tenure only

However, the incentive shall be available only for the remaining tenure of the scheme, according to an official release issued by the Department for Promotion of Industry and Internal Trade (DPIIT) on Monday.

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

The additional applications have been invited on the same terms and conditions offered to investors last year.

A total of 52 companies had filed their application last year, when on-line applications were invited from June 15 to September 15 through a web portal. After evaluation, 42 applicants — including companies such as Daikin, Hitachi, Panasonic, Voltas, Mettube, Nidec, Dixon and Havells — with committed investment of Rs. 4,614 crore were provisionally selected as beneficiaries under the PLI scheme.

Those selected included 26 air conditioner-manufacturing companies with committed investments of Rs. 3,898 crore and 16 LED lights manufacturing companies with committed investments of Rs. 716 crore.

Foreign investments

Interestingly, six other applicants who proposed foreign direct investment (FDI) from countries sharing land border with India, specifically China, were advised to submit approval for the FDI (under Press Note 3) for consideration of approval under the PLI scheme.

With an outlay of

Rs. 6,238 crore, the scheme is to be implemented over seven years from 2021-22 to 2028-29

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