27 companies including Dell, HP, Foxconn approved under new IT Hardware PLI scheme: Vaishnav

27 companies including Dell, HP, Foxconn approved under new IT Hardware PLI scheme: Vaishnav

27 companies including Dell, HP, Flextronics and Foxconn have been approved under the new production linked incentive (PLI) scheme for IT hardware. The government gave this information on Saturday. Laptops, tablets, PCs (computers), servers and very small devices are covered under this scheme. The scheme is expected to entail an incremental investment of approximately Rs 3,000 crore. The move comes at a time when India is wooing IT hardware companies with policy attractions and incentive schemes, and making a determined effort to establish itself as a global hub for high-tech manufacturing. Electronics and IT Minister Ashwini Vaishnav said, “I am happy to announce that 27 companies have been approved under the PLI IT Hardware Scheme.

Of these, about 95 percent i.e. 23 companies are ready to start manufacturing from day one.” Four companies will start production in the next 90 days. “There will be investment of around Rs 3,000 crore from these 27 companies…The most important thing is that the value chain is shifting towards India,” he said. Vaishnav said that these approvals will establish India as a major force in manufacturing of IT hardware including PCs, servers, laptops and tablets. The big names that have been approved under the IT hardware scheme include Dell, Foxconn, HP, Flextronics, VVDN and Optimus. Other applicants who have received the green signal include Padgett Electronics, SOJO Manufacturing Services, Goodworth, Neolink, Sirma SGS, Mega Networks, Panash Digilife and ITI Limited, among others.

Responding to a question on the absence of some big names from the list, the minister said some people are evaluating and making their plans and ‘it is just a question of time.’ However, he did not take any name. The Union Minister said that the scheme will generate additional production of Rs 3.5 lakh crore and generate direct employment for 50,000 people and indirect employment for 1.5 lakh people. PLI Scheme 2.0 for IT Hardware was approved by the Union Cabinet on May 17, 2023 with the aim of enhancing India’s manufacturing power and promoting exports. The scheme aims to promote manufacturing of laptops, tablets, personal computers, servers and Ultra Small Form Factor (USFF) devices.

Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.

Source link