Latest news with #KRNHVACProductsPrivateLimited
Business Standard
15-05-2025
- Business
- Business Standard
KRN HVAC Products receives approval for PLI incentives of Rs 141.72 cr
KRN Heat Exchanger and Refrigeration announced that in order to take the benefits of the Performance Linked Incentive (PLI) Scheme (herein referred to as PLI Scheme) for white goods (Air Conditioners and LEDs) Products, notified vide Gazette Notification No. CG-DL-E-16042021-226671 dated 16 April 2021 and PLI Scheme Guidelines issued thereunder, the Company's wholly owned subsidiary namely KRN HVAC Products Private Limited had made an application with IFCI (a government of India undertaking) and received an approval of incentives amounting to Rs 141.72 PLI Scheme is aimed at making India a global manufacturing hub for white goods (Air Conditioners and LEDs) products under "Make in India" initiative. Powered by Capital Market - Live News
Business Upturn
15-05-2025
- Business
- Business Upturn
KRN Heat Exchanger's subsidiary secures Rs 141.72 crore under PLI scheme for white goods
By Aditya Bhagchandani Published on May 15, 2025, 12:56 IST KRN Heat Exchanger and Refrigeration Limited announced on May 15, 2025, that its wholly owned subsidiary, KRN HVAC Products Private Limited, has received official approval under the Production Linked Incentive (PLI) Scheme for white goods. The incentive sanctioned under the scheme amounts to ₹141.72 crore. The PLI approval comes under the scheme notified by the Government of India to promote domestic manufacturing of Air Conditioners and LED products, with the goal of turning India into a global manufacturing hub under the 'Make in India' initiative. The application for this scheme was made to IFCI Limited, a government of India undertaking, and has now been formally approved. This incentive is expected to boost the company's manufacturing capabilities and contribute significantly to the growth of its white goods segment. This development marks a strategic milestone for KRN Heat Exchanger as it aligns its business expansion with government-backed policy support for indigenous manufacturing in the HVAC space. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
