PG Electroplast Arm Selected as AC Components Manufacturer under PLI Scheme; Mulls to Invest Rs 321 Cr in 5 Yrs

PG Technoplast Pvt Ltd, a wholly-owned subsidiary of PG Electroplast Ltd, has received approval from the Government of India under the Production Linked Incentive (PLI) Scheme for White Goods under the Air Conditioner (AC) Components category.
 
The PG Electroplast subsidiary has been among 26 others selected for manufacturing AC components.
 
The company has committed the fourth largest investment among those selected under the scheme.
 
It will be investing Rs 321 crore over a period of 5 years which the company has already begun in FY2022.
 
Commenting on the development, Vikas Gupta, Managing Director (Operations), PG Technoplast Pvt Ltd 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.”
 
He further added that “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. I would like to thank the Government of India for their efforts to help the industry and to also congratulate all our peers who have received the approval along with us.”
 
PG Electroplast has been indulged in Electronic Manufacturing Services and contract manufacturing for leading consumer durable and electronics companies in India. The company has one of the biggest capacities in Plastic Injection moulding and has capabilities across the value chain in Original Equipment Manufacturing (OEM) and Original Design Manufacturing (ODM).