May 8, 2021

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

, 19 cos apply under PLI scheme for IT hardware, The World Live Breaking News Coverage & Updates IN ENGLISH

19 cos apply under PLI scheme for IT hardware

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Apple’s contract manufacturers Foxconn and Wistron are among the companies that have applied for investments under the production-linked incentive (PLI) scheme for IT hardware manufacturing

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<p>Apple’s contract manufacturers Foxconn and Wistron are among the companies that have applied for investments under the production-linked incentive (PLI) scheme for IT hardware manufacturing<br></p>

NEW DELHI: Apple’s contract manufacturers Foxconn and Wistron, computer firm Dell and domestic firms Dixon and Lava are among the 19 companies that have applied for investments under the production-linked incentive (PLI) scheme for IT hardware manufacturing, the ministry of electronics and IT (Meity) said on Tuesday.
According to the ministry, the scheme is expected to lead to total production worth Rs 1.6 lakh crore. Out of the total, IT hardware companies have proposed production worth over Rs 1.35 lakh crore, and domestic companies have proposed output of more than Rs 25,000 crore, Meity said.
“The electronics hardware manufacturing companies that have applied under category IT hardware companies are Dell, ICT (Wistron), Flextronics, Rising Stars Hi-Tech (Foxconn) and Lava,” Meity said. Another 14 companies have filed applications under the category of domestic companies. They are Dixon, Infopower (JV of Sahasra and MiTAC), Bhagwati (Micromax), Syrma, Orbic, Neolync, Optiemus, Netweb, VVDN, Smile Electronics, Panache Digilife, HLBS, RDP Workstations and Coconics.
“These companies are expected to expand their manufacturing operations in a significant manner and grow into national champion companies in IT hardware production,” the government said.
Dixon chairman Sunil Vachani told that the company will make investments towards manufacturing of IT hardware. “We intend to begin with Rs 50-crore investment, and these would be ramped up subsequently.”
The PLI scheme for IT hardware was notified on March 3. The scheme provides an incentive of 1-4% to eligible companies on net incremental sales over the base year of FY20 of goods under target segments that are manufactured in India for a period of four years (FY22 to FY25).
Electronics and IT minister Ravi Shankar Prasad said the PLI scheme for IT hardware has been a success in terms of the applications received from global as well as domestic companies engaged in manufacturing of electronics hardware products.

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