White goods refer to heavy consumer durables or large home appliances, which were traditionally available only in white. They include appliances such as washing machines, air conditioners, stoves, refrigerators, etc. The white goods industry in India is highly concentrated. Indian appliance and consumer electronics (ACE) market reached INR 76,400 crore (~$10.93 bn) in 2019. Appliances and consumer electronics industry is expected to double to reach INR 1.48 lakh crore (~$21.18 bn) by 2025.
The Indian LED Lights sector encompasses different segments like automotive lighting, general lighting and backlighting in commercial, residential, and industrial applications. The expected revenue growth in the Indian LED lighting market is at 12% CAGR.
The prime objective of the PLI scheme is to make manufacturing in India globally competitive by removing sectoral disabilities, creating economies of scale, and ensuring efficiencies. It is designed to create a complete component ecosystem in India and make India an integral part of the global supply chains. The scheme is expected to attract global investments, generate large-scale employment opportunities and enhance exports substantially.
Scheme Outcome- 42 applicants with committed investments of INR 4,614 crore have been provisionally selected as beneficiaries under the PLI scheme. The selected applicants include 26 for Air Conditioner manufacturing with committed investments of INR 3,898 crore and 16 for LED Lights manufacturing with committed investments of INR 716 crores.