The government stated that investments totaling Rs 6,887 crore (until June 2023) have been made in the production-linked plan (PLI) for large-scale electronics manufacturing, including the manufacture of mobile phones. This amount has already surpassed the FY24 objective of Rs 5,488 crore. The PLI scheme for large-scale electronics manufacturing, which was announced in April 2020 for a duration of five years, offered eligible companies an incentive of 3-6% on incremental sales (over base year) of goods manufactured in India and covered by target segments like mobile phones and specific electronic components.
"During the scheme's tenure, the scheme is expected to contribute investment of Rs 7,000 crore, production of Rs 8,12,550 crore, exports of Rs 4,87,530 crore, and generated employment of Rs 2,00,000 (direct jobs)," Rajeev Chandrasekhar, Minister of State for Electronics and IT, said in a statement to the Rajya Sabha. The PLI scheme produced goods worth Rs 3,30,612 crore, exported goods worth Rs 1,56,051 crore, and created 62,173 direct jobs up to June of this year.
"The government's goal is to broaden and deepen the nation's ecosystem for electronic manufacturing as well as increase India's participation in electronics Global Value Chains (GVCs)". 32 applicants have received approval under the PLI scheme to now.
The IT Ministry's 2021 notification requires mandatory compliance for production or storage for sale, import, sell or distribution of notified electronic goods or articles to equivalent Indian standards in order to improve the quality of electronic goods produced or imported into the nation.
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