In November, the Union Cabinet had approved Rs 6,238 crore outlay for these two sectors, air conditioners and LED lights, under the PLI scheme, which aims at making Indian manufacturers’ competitive globally.
“The department has sent the proposals for ACs and LED lights to the expenditure finance committee (EFC) for their approval,” the official said.
Significant jump in capacity addition in the LED sector has helped the industry to cater to the domestic markets and “now there will be focus to boost its exports”, the official added.
The scheme would help India become self-reliant, boost manufacturing as well as enhance exports.
The government in November approved the PLI scheme for ten key sectors, including telecom, automobiles and pharmaceuticals, taking the total outlay for such incentives to nearly Rs 2 lakh crore over a five-year period.
The final proposal of the PLI scheme for individual sectors would have to be approved by an empowered finance committee and Union Cabinet.
The departments concerned would have to implement the scheme.