Next Generation Manufacturers received approval under PLI Scheme of Government of India for White Goods

Next Generation Manufacturers Private Limited, a step-down subsidiary of PG Electroplast Limited, has received approval from Government of India under the Production Linked Incentive (PLI) Scheme for 3rd Round of White Goods under the Air Conditioner Components category. It will be investing INR 121.35 Crores over a period of five years.

Commenting on this occasion, Mr. Vishal Gupta, Managing Director (Finance), PG Electroplast Limited said, "We are delighted to have been approved under the 3rd Round of 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. 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."

Source : Equity Bulls

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PGElectroplast NextGenerationManufacturers PLIScheme Approval