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 Ministry of Commerce and Industry said the industry is keen to invest more under the Production Linked Incentive (PLI) scheme.
The application window will be open from July 15 to October 12. No application will be accepted after the application window closes.
To avoid any discrimination, new applicants as well as existing beneficiaries of the scheme who propose to invest more by switching to a higher target segment will 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 will be eligible for incentives only for the remaining tenure of the scheme.
It said, “Applicants approved in the proposed third round will be eligible for PLI for a maximum of three years only in case of new applicants and existing beneficiaries who opt for investment period up to March 2023 to move to a higher investment category "
Existing beneficiaries who have opted for investment period up to March 2022 and wish to move to a higher investment category in the proposed third round will be eligible for PLI only for a maximum of two years.
Further, in order to maintain liquidity in the business, better working capital management and enhance operational efficiency of the beneficiaries, it has been decided to introduce the system of processing claims of PLI quarterly in place of processing claims on annual basis.
The Union Cabinet on April 7, 2021, had approved the PLI scheme for white goods for manufacturing components and sub-assemblies of air conditioners (ACs) and LED lights.
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.
The Ministry of Commerce and Industry said the industry is keen to invest more under the Production Linked Incentive (PLI) scheme.
The application window will be open from July 15 to October 12. No application will be accepted after the application window closes.
To avoid any discrimination, new applicants as well as existing beneficiaries of the scheme who propose to invest more by switching to a higher target segment will 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 will be eligible for incentives only for the remaining tenure of the scheme.
It said, “Applicants approved in the proposed third round will be eligible for PLI for a maximum of three years only in case of new applicants and existing beneficiaries who opt for investment period up to March 2023 to move to a higher investment category "
Existing beneficiaries who have opted for investment period up to March 2022 and wish to move to a higher investment category in the proposed third round will be eligible for PLI only for a maximum of two years.
Further, in order to maintain liquidity in the business, better working capital management and enhance operational efficiency of the beneficiaries, it has been decided to introduce the system of processing claims of PLI quarterly in place of processing claims on annual basis.
The Union Cabinet on April 7, 2021, had approved the PLI scheme for white goods for manufacturing components and sub-assemblies of air conditioners (ACs) and LED lights.
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.
