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Tuesday, July 9, 2024
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HomeIndiaUnion govt reopens PLI Scheme for white goods, extends application window for...

Union govt reopens PLI Scheme for white goods, extends application window for 90 days

The decision was taken due to the growing interest among the industry and higher confidence in the manufacturing of key components of ACs and LED Lights in India under the PLIWG Scheme.

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New Delhi: The government has decided to reopen the application window for the PLI Scheme for White Goods (ACs and LED Lights) for 90 days, a PIB press release stated.

The decision was taken due to the growing interest among the industry and higher confidence in the manufacturing of key components of ACs and LED Lights in India under the PLIWG Scheme.

The application window for the PLI Scheme for White Goods will remain open online from July 15, 2024, to October 12, 2024. No new application will be accepted after the deadline.

According to the government, the new and existing beneficiaries of PLIWG who want to invest more by switching to a higher target segment or their group companies applying under a different target segment will be eligible to apply. However, they will have to fulfill the eligibility conditions mentioned in the Para 5.6 of the Scheme Guidelines and adhere to the investment schedule.

Under the PLI Scheme for White Goods, incentives will only be available for the remaining tenure of the scheme. The applicants approved in the third round will be eligible for PLI for a maximum period of three years. The existing beneficiaries who opt for the investment period of up to March 2022 will be eligible for PLI for a maximum period of two years.

The government has also decided to introduce a system of quarterly claims processing of PLI to maintain liquidity in the business and improve operational efficiency of beneficiaries.

However, this type of flexibility will only be provided once during the scheme period.


Also read: Jobs, rural India likely to be focus of new Modi government’s first budget, says Goldman Sachs


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