New Delhi: A Leap Forward for the White Goods Sector

In a significant development, 18 companies, including notable names like Voltas, MIRC Electronics, Lumax, and UNO Minda, have been selected to benefit from the production-linked incentive (PLI) scheme aimed at boosting the white goods sector. These companies have collectively committed to an investment of Rs 2,299 crore, marking a pivotal moment for the industry.

Investment Commitments and Future Prospects

Among the selected companies, Voltas Components has pledged an investment of Rs 257 crore towards the manufacturing of compressors. Similarly, MIRC Electronics has proposed an investment of Rs 51.5 crore for the production of AC products such as motors. These commitments highlight the companies' dedication to advancing the white goods sector and enhancing their production capabilities.

Looking Ahead

With the third round of applications seeing 38 companies proposing investments totaling Rs 4,121 crore in October 2024, the PLI scheme continues to attract significant interest. This initiative not only promises to invigorate the white goods sector but also aims to position India as a global manufacturing hub. Stay informed with the latest Business News on Times of India, and explore opportunities to unlock your investment potential with ET's Stock Valuation Workshop.