Centre Approves PLI Scheme 2.0 For IT Hardware With Rs 17,000 Budgetary Outlay
PM Modi-led Cabinet approved IT hardware PLI Scheme 2.0 with Rs 17,000 crore budget.Snapshot
The scheme is estimated to generate Rs 3.35 lakh crore in production, Rs 2,430 crore in investment and provide direct employment for 75,000 people during the scheme duration.
Prime Minister Narendra Modi-led Cabinet approved IT hardware Production Linked Incentive Scheme 2.0 with Rs 17,000 crore budget.
Indian electronics manufacturing achieved a 17 per cent CAGR over the past eight years, resulting in a production milestone of $105 billion (Rs 9 lakh crore) this year.
“For IT PLI, the budgetary outlay is Rs 17,000 crore. The tenure of the programme is 6 years,” Union Minister for IT and Telecom Ashwini Vaishnaw said.
IT hardware like laptops, tablets, PCs, servers and ultra-small devices are covered under PLI Scheme 2.0.
The scheme is estimated to generate Rs 3.35 lakh crore in production, Rs 2,430 crore in investment and provide direct employment for 75,000 people during the scheme duration, said the Minister.
In February 2021, the government approved the PLI scheme for IT hardware, which includes laptops, tablets, All-in-One PCs, and servers, with a budget of Rs 7,350 crore.
Industry stakeholders had urged the government to increase funding for the sector.
Launched in April 2020, the PLI Scheme has greatly stimulated electronics manufacturing in India with emphasis on mobile phone production.
In March this year, India's mobile phone exports reached over $11 billion, marking a significant achievement for the country, which is now the second-largest mobile phone manufacturer globally.
Union Cabinet approved the PLI Scheme 2.0 for IT hardware, following the successful implementation of PLI scheme for mobile phones.
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