The Indian Electronics market is undergoing a tremendous surge. From a current market size of USD 90Bn+, the market is expected to rise above USD 150Bn by 2030. Foreign and domestic companies are increasingly leveraging these opportunities to establish and expand their presence in India, either thorough domestic manufacturing, JV partnerships or enhanced sourcing/supplier engagements.
To further enable this momentum, the Government of India has re-opened the application period for the Production Linked Incentive Scheme for White Goods (ACs and LEDs). Under this Third Round of PLI WG:
- Production of componentsused in AC, HVAC, LED and electronics value chains – including PCBs, compressors, heat exchangers, sheet metals, injection moulding, LED drivers, diffusers, electromagnetics etc. – will be incentivized
- Companies can avail 4-6% incentive on yearly net incremental sales(global/domestic sales included)
- Atleast 60% of sales of components towards AC or LED production needed, upto 40% sales can be to non-AC/LED segments
- Investments in components for Room or Commercial HVAC systems, R&D, tooling, utilities etc. will be incentivized
- Deadline for application submission by October 12th, 2024
Invest India is thus keen to aid companies evaluate the opportunity under this scheme and the overall India market.
- Invest India, in association with the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, is conducting an webinar to discuss the developments in the Consumer Electronics sector and the details of the PLI-WG for companies interested in leveraging this scheme:
Details for the event are provided below:
Webinar: India’s AC and LED Opportunity & the PLI For White Goods #4 (Focus Region: Europe & UK)
Date: Friday, September 13th , 2024
Time: 3.30 PM – 4.30 am IST (10.00 AM- 11.00 AM GMT)
Registration Link: https://investindiavc.webex.com/weblink/register/r69b3e838e06d9b9ed705a370eab13c74
(Webinar link will be shared immediately post-registration)
Invest India further supporting companies evaluate the market opportunity in electronics, and the state incentives available beyond the PLI, which can provide further 25-30% capex incentives, electricity duty exemption, interest rate subsidies etc. on companies establishing/expanding their manufacturing operations.
Interested Companies wishing to evaluate these and discussing the support needed on market evaluation, National/State Incentive comparisons, shortlisting land packages, supplier/partner connects, or business case advisory, can request to schedule a 1x1 interaction with us, and are encouraged to fill in the survey: https://www.investindia.gov.in/form/PLIWG-survey
For further details please contact Mr. Bhushan Trivedi (+91-9319898198; bhushan.trivedi@investindia.org.in)
