Over 50 companies list Rs 6,000 crore AC, LED investment

NEW DELHI: Over 50 companies have applied for availing production-linked incentives (PLIs) for air conditioners and LEDs, proposing an investment of around Rs 6,000 crore in the manufacturing of components for ACs and LED lights.
Most of the investments are expected to happen in two-three years and, after that, local production of components for ACs and LED lights is set to start, Ficci Electronics Manufacturing Committee chairperson Manish Sharma said. This will not only help in saving foreign currency, as the majority of the components in ACs and LED lights are imported from countries like China and Taiwan, but also create fresh job opportunities.