Investment15 May 2025, 05:41 pm
KRN Heat Exchanger's Subsidiary Receives X141.72 Cr Incentives Under PLI Scheme
AI Summary
KRN Heat Exchanger and Refrigeration Limited announces that its wholly owned subsidiary, KRN HVAC Products Private Limited, has received approval under the Government of India’s PLI Scheme for white goods (Air Conditioners and LED products). The approval includes financial incentives amounting to X141.72 Cr, granted by IFCI Limited. This strategic move aligns with the company’s commitment to building energy-efficient, environmentally sustainable products that meet global standards. The incentive will support KRN’s expansion plans, developing a localized component ecosystem, and enhancing backward integration capabilities.
Key Highlights
- KRN HVAC receives approval under the PLI Scheme for white goods with incentives of X141.72 Cr.
- PLI Scheme aims to establish India as a global manufacturing hub by incentivizing domestic production and reducing import dependency.
- Incentive will support KRN’s expansion plans and enhance backward integration capabilities.
- KRN focuses on innovation, quality, and sustainable growth in HVAC and white goods manufacturing.
- Government initiatives like the PLI scheme align with KRN's goals, creating long-term value for stakeholders.