PG Electroplast secures approval under PLI scheme for white goods

PG Electroplast Limited said that its fully-owned subsidiary — PG Technoplast Private Limited has secured approval from the Indian government under the production linked incentive (PLI) scheme for white goods under the air conditioner components category.

The company will invest INR 321 crores over a period of five years starting from FY2022.

PG Electroplast provides electronic manufacturing services and contract manufacturing for consumer durable and electronics firms in India.

Vikas Gupta — Managing Director (Operations) at PG Electroplast said: “We are delighted to have been approved under the PLI scheme for AC components. It is a milestone that showcases our strength in this domain and highlights our commitment towards the government’s vision of Atmanirbhar Bharat and the Make in India project.

“The PLI schemes will go a long way in making India the new global manufacturing hub. To meet the growing business demands we have invested heavily in our infrastructure, R&D and human capital and will continue to do so, to help us cater to our Indian and global customers.”