Under PLI Scheme, Smartphone Makers Produced Goods Worth Rs 35,000 Crore, Invested Rs 1,300 Crore Till December 2020

In a positive development, the smartphone makers selected by the Centre under its ambitious production linked incentives (PLI) scheme for large scale electronics manufacturing invested Rs 1,300 crore and produced goods worth around Rs 35,000 crore in the first five months of scheme operation till December 2020, reports Economic Times.

Besides, the quarter also saw the shortlisted companies create around 22,000 employment opportunities.

Launched on 1 April 2020, the scheme provides the shortlisted companies with an incentive of four to six per cent of incremental sales for a period of five years after the base year. In total, the government had chosen 16 proposals under the scheme, including those from renowned companies like Samsung, Foxconn Hon Hai, Rising Star, Wistron and Pegatron. Of these, Wistron, Pegatron and Foxconn Hon Hai are contract manufacturers for technology behemoth Apple.

The Indian companies chosen under the scheme include Lava, Micromax (Bhagwati), Padget Electronics, UTL Neolyncs and Optiemus Electronics.

In recent days, the government has also launched a host of PLI schemes to boost manufacturing in other sectors. On 3 March, the scheme was announced for IT hardware manufacturing which would cover products like laptops, tablets, servers and all-in-one personal computers et cetera.