Amber Enterprises on Wednesday said production-linked incentive (PLI) will make manufacturing viable in India.
Speaking in an interview with CNBC-TV18, Jasbir Singh, Chairman & CEO of the company said, “PLI has 3 objectives for our sector, especially air conditioners. The local value addition for the component-based was 25 percent and through PLI component ecosystem will get developed in the country and we expect that in 5 years’ time this will go to 75-80 percent.”
“Aluminum, copper, compressors, motors were getting imported as of now. So PLI will benefit the whole component ecosystem and make the manufacturing viable in India,” he said.
Amber Enterprises is a prominent solution provider for the Air conditioner original equipment manufacturer (OEM)/original design manufacturer (ODM) industry in India. The company is currently focused on two greenfield projects, one in Pune and other in south India (either in Sri city or Chennai).
“We have lined up capital expenditure of Rs 300 crore for the two greenfield projects,” said Singh.
The Pune plant will start manufacturing in Q4 of next year.
For the entire interview, watch the video