Dell, HP, Lenovo, and 24 other companies have been approved for the second phase of the Production Linked Incentive (PLI) scheme for IT hardware manufacturing, according to a government statement on Saturday.
The government had received 40 applications for the PLI scheme, with an expected incremental investment of Rs 5,010 crore. The approved proposals are expected to generate an incremental production of Rs 4.65 lakh crore over six years, including exports of Rs 28,288 crore during the period.
The PLI scheme for IT hardware manufacturing aims to boost domestic production of IT hardware products and reduce reliance on imports. It offers incentives of up to 6% on incremental sales for four years.
About the PLI Scheme
The PLI scheme for IT hardware manufacturing was introduced by the Indian government in April 2020 to promote domestic production of IT hardware products and reduce reliance on imports. The scheme offers incentives of up to 6% on incremental sales for four years.
The approved companies will be required to set up new manufacturing units or expand existing ones in India. They will also be required to meet certain manufacturing and sales targets.
The government is expecting the PLI scheme to create 50,000 direct jobs and 150,000 indirect jobs in India.
The first phase of the PLI scheme for IT hardware manufacturing was launched in April 2020. The scheme has been successful in attracting investments from global players such as Samsung, Apple, and Foxconn.
The second phase of the PLI scheme is expected to further boost domestic production of IT hardware products and make India a global hub for IT manufacturing.
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The approval of Dell, HP, Lenovo, and 24 other companies for the PLI scheme is a significant step in the Indian government’s efforts to boost domestic manufacturing and reduce reliance on imports. The scheme is expected to create jobs, attract investments, and make India a global hub for IT manufacturing.
Key Features of the PLI Scheme
- The PLI scheme is open to companies that set up new manufacturing units or expand existing ones in India.
- The companies must meet certain manufacturing and sales targets to be eligible for the incentives.
- The scheme is expected to generate 50,000 direct jobs and 150,000 indirect jobs in India.
Impact of PLI Scheme on IT Hardware Industry
The PLI scheme has been successful in attracting investments from global players such as Samsung, Apple, and Foxconn. The first phase of the scheme has been instrumental in boosting domestic production of IT hardware products.
Implications of the Approval
The approval of these companies is expected to have a positive impact on the Indian IT hardware industry. It is likely to lead to:
- Increased domestic production of IT hardware products
- Reduced reliance on imports
- Creation of jobs
- Increased investments
- Making India a global hub for IT manufacturing
Conclusion
The approval of Dell, HP, Lenovo, and 24 other companies for the PLI scheme is a major milestone in the Indian government’s efforts to promote domestic manufacturing of IT hardware products. The scheme is expected to have a transformative impact on the Indian IT industry and make India a global player in IT hardware manufacturing.