The Department for Promotion of Industry and Internal Trade (DPIIT) said investors were given option to choose one of the two gestation periods – up to March 2022 (one year) and up to March 2023 (two years).All 15 projects – companies that have opted for gestation period 2021-22 – have been commissioned.
“Companies opting for one year of gestation period are eligible for PLI in the current year (2023-24) based on achieving threshold investment and net incremental sales in 2022-23. Their online applications are under examination by the PMA (project management agency). The PLI will be disbursed by March 2024,” it said. The scheme has attracted a mix of multinational and domestic companies committing to develop a robust component ecosystem in India.
IFCI has been selected as PMA for the white gods scheme.