PG Electroplast, a contract manufacturer of electronic goods, has applied for the production-linked incentive (PLI) Scheme and committed to investing Rs 300 crore to manufacture air-conditioner components.

Through its wholly-owned subsidiary PG Technoplast, it has committed a capital expenditure (capex) of Rs 300 crore over the next five years for manufacturing air-conditioner (AC) components.

The company has already started Phase-I of its planned investment. It is also building up its design and research and development (R&D) capabilities for the AC segment.

As many as 31 companies, including Voltas, Daikin, Panasonic, Hitachi, Blue Star and Havells, have applied for availing PLIs for manufacturing of components, proposing an investment of around Rs 4,995 crore.

The selection of applicants will be done within 60 days from the date of closure of the application window or by 15 November 2021.

The PLI Scheme for White Goods (air-conditioners and LED lights) is expected to increase domestic value addition in the manufacturing process from 25 percent to 75 percent by 2026.