The device has a very low penetration rate, giving ample headroom for growth in the coming few years.
Panasonic is also among the list of companies that had applied for the third round of the PLI for white goods, which includes air conditioners and LED lights.
Moreover, PLIs have come in at the right time, and the geopolitical situations are making countries like Taiwan want to move their supply chains out of China — one of which can be India,” said Sharma.
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