Voltas, a Tata group firm, has set aside 350-400 crore in capital expenditure to meet the government’s needs for manufacturing components under the Production Linked Incentive (PLI) Scheme.
Voltas, a company that specialises in air conditioning and cooling technologies, had signed up for the PLI plan to manufacture a variety of components, including compressors for room air conditioners.
“This is an important step towards our goal of backward integration and will help us secure our supply chain against political and trade uncertainties,” said Pradeep Bakshi MD & CEO, Voltas, in the latest annual report.
In 2020, the Government had announced an outlay of ₹1.97 Lakh crore for PLI Schemes across 14 key sectors, large-scale electronics manufacturing; and white goods. This was to create national manufacturing champions, 60 lakh new jobs, and an additional production of ₹30 lakh crore during next five years.
