The commerce ministry announced Sunday that manufacturers may again apply for production incentive benefits targeting air conditioners and LED lighting equipment. Applications will be accepted from September 15 through October 14 on the established digital platform. Officials cited strong business interest and investment demand as reasons for extending the program. Market growth and domestic component manufacturing success prompted this decision. The ministry will not process any submissions after the October deadline.
Eighty-three companies have already gained approval under this initiative, promising investments totaling 10,406 crore rupees. The seven-year program spans from fiscal 2021-22 through 2028-29 with allocated funding of 6,238 crore rupees. Both first-time applicants and current participants may submit proposals for expanded operations or higher investment categories. New participants approved during this round will receive benefits for a maximum two-year period. Companies will manufacture air conditioner and LED components across the entire production chain.
Eighty-three companies have already gained approval under this initiative, promising investments totaling 10,406 crore rupees. The seven-year program spans from fiscal 2021-22 through 2028-29 with allocated funding of 6,238 crore rupees. Both first-time applicants and current participants may submit proposals for expanded operations or higher investment categories. New participants approved during this round will receive benefits for a maximum two-year period. Companies will manufacture air conditioner and LED components across the entire production chain.
