Kiri Industries Secures PLI Approval, Commits ₹2.59 Billion Investment in White Goods

Kiri Industries Ltd announced that its unit has received approval under the government’s Production-Linked Incentive (PLI) scheme for white goods, a significant milestone in its diversification strategy. The company has committed an investment of ₹2.59 billion to enhance its manufacturing capabilities and capture opportunities in India’s growing consumer durables market.

Key Highlights

• Investment Commitment: ₹2.59 billion earmarked for expansion in white goods manufacturing.
• PLI Approval: Unit approved under the government’s PLI scheme, supporting domestic production.
• Strategic Diversification: Marks Kiri’s entry into the consumer durables sector, beyond its traditional chemical business.
• Policy Context: PLI scheme aims to boost local manufacturing, reduce imports, and strengthen India’s self-reliance.
• Market Opportunity: Rising demand for white goods such as air-conditioners, refrigerators, and washing machines in India.
• Future Outlook: Investment expected to create jobs, enhance supply chain efficiency, and position Kiri as a competitive player in the sector.

This development underscores Kiri Industries’ strategic pivot toward consumer-focused manufacturing, leveraging government incentives to drive growth and innovation.

Sources: Reuters, Company Filings.