(MENAFN - AsiaNet News) Union Finance Minister Nirmala Sitharaman on Thursday tabled the Economic Survey of India in Parliament for the financial year 2025-26, setting the stage for the Union ...
Gold price biggest one-day dollar gain: Gold prices hit an all-time high today, climbing $235 per ounce—marking the largest single-day increase in history. The surge is attributed to a weakening U.S. dollar and rising investor uncertainty amidst geopolitical tensions. Find out why analysts predict further gains for gold and other precious metals.
India’s manufacturing has shifted from assembly-led growth to component-driven self-reliance. Among the sectors where this paradigm shift is most apparent is the white goods sector, specifically air conditioners and LED lighting, driven by growing domestic demand, energy efficiency, and global value chains. The Production Linked Incentive (PLI) Scheme for White Goods, approved by the Union Cabinet in April 2021, a designed policy intervention to address the deep-rooted structural issues in this sector. What is the PLI Scheme for White Goods? The PLI Scheme for White Goods covers two major segments – Air Conditioners (ACs) and LED Lights. Earlier industrial policies were focused on finished products. This scheme is explicitly designed to build a domestic component ecosystem, which is the most important and critical part of the white goods supply chain. Approved on 7 April 2021 with a total outlay of Rs 6,238 crore and notified by the Department for Promotion of Industry and Internal Trade (DPIIT) on 16 April 2021, the scheme is being implemented over an eight-year period from FY 2021–22 to FY 2028–29. It offers production-linked incentives ranging from 6 per cent to 4 per cent on incremental sales for a period of five years, following a base year and a one-year gestation period. Also Read: 100 years of RSS — Resolve for Selfless Service: Renunciation & service is national ideal of Bharat: J Nandakumar Ji The objective is to reduce import dependence, increase domestic value addition and position India as a reliable node in global supply chains for cooling and lighting equipment. Why White Goods Need Policy Support India is one of the fastest-growing markets for air conditioners and LED lighting. Rising incomes, urbanisation, climate variability and energy-efficiency mandates have driven sustained demand. For decades this growth masked a critical vulnerability of high dependence on imported components from East Asia. Before the PLI intervention, domestic value addition in air conditioners and LED lighting hovered between 20–25 per cent. Key components such as compressors, copper tubes, control assemblies, LED drivers and chip packaging were largely imported. This exposed the sector to supply-chain disruptions, currency volatility and geopolitical risks, weaknesses that became starkly visible during the pandemic years. The PLI Scheme for White Goods tackles this structural challenge head-on by encouraging the production of components over final products, thus ensuring that economies of scale, technology and talent are developed in the country. Numbers That Matter in White Goods The assessment of 13 applications received in the fourth round of the PLI Scheme for White Goods has resulted in the shortlisting of five companies, all of which are involved in the production of air conditioner components. The total investment made by these companies stands at ₹863 crore. The outcome of this round alone is indicative of the catalytic effect of the scheme, with the expected production value standing at Rs 8,337.24 crore and the generation of 1,799 direct jobs in FY 2027-28. This round further enhances the component manufacturing ecosystem in the country and enhances the value chains in the air-conditioning industry in India. These achievements are in addition to the cumulative progress made in all rounds of the scheme. A total of 85 companies have been selected under the PLI Scheme for White Goods, including air conditioners and LED lights. These companies are expected to invest a cumulative amount of Rs 11,198 crore and produce goods worth ₹1,90,050 crore. The scale of these numbers reflects a deliberate policy architecture in which targeted fiscal incentives are used not as subsidies, but as levers to crowd in substantial private investment, expand manufacturing capacity and create sustainable employment. Who Is Manufacturing What The fourth-round selections underline the PLI scheme’s clear emphasis on manufacturing depth rather than mere numerical expansion. The provisionally selected companies are focused on producing critical air-conditioner components, including compressors, copper tubes (both plain and grooved), control assemblies for indoor and outdoor units, heat exchangers, BLDC motors and sheet metal and plastic moulding parts. This is a strategic and value-based focus. The combination of compressors and motors significantly influences the cost, performance, and energy efficiency of an air conditioner. Copper tubes and heat exchangers are critical to efficient thermal transfer, and sophisticated control assemblies define product reliability, robustness and intelligent functionality. On the LED side the scheme promotes domestic manufacturing of critical components such as LED chip packaging, drivers, engines, light management systems and metallised films for capacitors. These elements form the technological backbone of modern, energy-efficient lighting systems aligned with smart infrastructure and sustainability goals. Institutional Oversight and Quality Control The policy architecture of the PLI Scheme has built-in mechanisms to ensure seriousness and technical credibility. In the fourth round, eight applications have been referred to the Committee of Experts (CoE) for a detailed scrutiny and recommendation. This multi-level scrutiny system ensures that the incentive is not only linked to the investment intention, but also to the technology competence, scalability and viability. Such institutional scrutiny distinguishes the current PLI framework from earlier incentive regimes that often lacked outcome-based accountability. One of the most important challenges that the scheme aims to overcome is the increase in domestic value addition from 20-25 per cent to 75-80 per cent. This is not limited to the white goods industry. Higher value addition means: · Lowered import costs for components · Improved resistance to disruptions in global supplies · Building domestic supplier networks, MSMEs and supporting industries · Absorption of technology and building skills in India In essence, the scheme is not only about producing goods in India but also about having ownership of the industrial knowledge that goes into the goods. How the Present Government Has Supported the Sector The PLI Scheme for White Goods is a part of a larger policy framework that has been created under the current government’s manufacturing plan. Rather than focusing on generalised subsidies, the strategy focuses on: · Performance-linked incentives · Time-bound implementation · Sector-specific design · Private investment as the main driver of growth With the government commitment of a fixed outlay of ₹6,238 crore over [...]
KAWASAKI, Japan--(BUSINESS WIRE)--Jan 28, 2026--
When sight isn’t viable, investigators and operators still need clarity. Dimension X piloted rapid 3D scanning and privacy-safe sound AI with Home Team.
While the India-EU FTA clearly holds promise, its success will hinge on three aspects: manufacturing, mobility and non-tariff barriers. Even before we get to this test, the deal must clear multiple hurdles in Europe. Let’s not celebrate this trade pact too early.
PwC Nigeria, in partnership with BusinessDay, will host an executive roundtable on January 29 (today) to discuss Nigeria’s 2026 budgetread more PwC, BusinessDay to host CEO roundtable on Nigeria’s 2026 budget, outlook
This is the front page of The Indian Express published on January 29, 1986.
After three decades as a culinary landmark on eastern Hong Kong Island, Kam Shing Restaurant will serve its final meal this Saturday, with the second-generation owner saying he is closing the business to embark on a journey of personal growth rather than succumbing to financial pressure.Opening in 1992 and relocating to a smaller storefront in 2019, Kam Shing has become a Shau Kei Wan Main Street East staple where the wok hei, or smoky “breath of the wok”, is guaranteed, and every meal comes...
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Prime Minister Narendra Modi inaugurated the Navi Mumbai International Airport last month, and commercial flights began operating from December 25.
Turning something you love into a thriving business is the dream of many people. And it is even more special when that passion passes down from one generation to the next.Beijing native Chen Lizhong is one of the lucky people who has had the chance to accomplish both. She is the founder and owner of Tiansai Vineyards, a boutique winery located in Bayingolin Mongol autonomous prefecture, also known as Bazhou, in China’s far-west Xinjiang region.“Owning a winery had been my dream for years...