Ten of 40 firms started manufacturing in July
New Delhi: Ten out of the 40 companies that applied for the Centre's revised production-linked incentive scheme for IT hardware have started production from 1 July 2023, while 25 plan to begin manufacturing by 1 April 2024, government officials said on Thursday.
Five companies will likely start operations from 1 April 2025.
The government expects an incremental investment of ₹5,010 crore from the 40 applicants, including global IT hardware companies such as Dell and HP that are participating directly under the revised production-linked incentive scheme.
Other major players such as HPE, Lenovo, Acer, ASUS, Thomson were participating through electronics manufacturing services providers or contract manufacturers including Flextronics and Rising Stars, a unit of Foxconn Technology Group in India.
Officials added that Indian companies such as Padget, a subsidiary of Dixon Technologies, VVDN, Netweb, Syrma, Optiemus Technologies, Sahasra, Neolync, Panache, Sojo, a unit of Lava mobiles, and Kaynes have also participated in the scheme which will get impetus from the strong IT services industry which was driving the demand within the country.
"The scheme has been oversubscribed. Against the budgetary allocation of ₹17,000 crore, applicants have projected PLI amount to the tune of ₹22,890 crore. The production figure projected by these applicants is ₹4.65 trillion - including exports of ₹28,288 crore - against the target of 3.35 trillion," the official said.
Applicants will be selected shortly as per the scheme guidelines within the overall budget outlay of ₹17,000 crore, officials added.
The six-year production-linked incentive (PLI) scheme for IT hardware—laptops, tablets, all-in-one personal computers, servers and ultra-small form factor devices—aims to attract top hardware companies.
Apple has not applied under the scheme, but one of its contract manufacturers Foxconn, under the entity Rising Stars Hi Tech, is among the 40 applicants. Government officials said they were in talks with Apple to make iPad in in the country. A few weeks ago, Hewlett Packard Enterprise said it would invest $1 billion in India to make servers.
The second version of the scheme issued in May this year appears to have been better received than the first one issued in 2021 with an outlay of about ₹8,000 crore, when most global players stayed away. According to the scheme, an incentive of 5% will be provided by the government on net incremental sales, over the base year, of goods manufactured in India, compared to 2% earlier, where the base year can be chosen starting from FY23.
The scheme also provides for flexibility as the investments can be done over six years, instead of four years earlier. Companies opting for the scheme will get additional optional incentive of another 3% if they use India-made and designed components, sub-systems, or inputs. Also, the companies can onboard Indian contract manufacturers and avail incentives if the contractors are producing for a single company. Investments from Chinese manufacturers would also be allowed in accordance with existing regulations.
"This is happy news that some of the world's largest IT companies, such as Dell, HP, ASUS, and Acer, have applied for the PLI 2.0 scheme. This shows that they are interested in manufacturing computers in India. PM Narendra Modi ji reiterated how India is the world's second-largest manufacturer of smartphones. We want to achieve the same status in IT hardware, such as laptops, servers, and tablets. The PLI scheme is part of this mission. We are happy that the scheme has been well-received by the industry. We want the big IT companies to manufacture their products in India and export them from here. This will create opportunities for jobs and investments," said minister of state for electronics and information technology Rajeev Chandrashekhar.
"The IT hardware vertical is the 2nd largest in electronics after smartphones, and a strong presence in this segment is essential for India's growth," Pankaj Mohindroo, Chairman, India Cellular and Electronics Association, said. "This will be a double engine industry — Lead firms of Global Value Chains (GVCs) and Emerging Indian champions will be the two engines of growth," he added.
Source: Live Mint
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Over 30 companies may qualify for IT hardware PLI scheme
Over 30 companies are expected to qualify for ₹17,000 crore production linked incentive (PLI) scheme for IT hardware manufacturing, said a report by news agency PTI citing a government official.
“Around 30-32 company may qualify for the (IT hardware PLI scheme. Some are looking ineligible for the scheme due to financial issues and organisation structure issues," said the official as quoted by PTI.
Around 40 IT hardware companies, including Dell, HP, and Lenovo, had applied for the PLI scheme to manufacture personal computers, laptops, tablets, servers and other equipment worth ₹4.65 lakh crore.
The selected companies will get incentives well within the fund allocated for the scheme, the official told PTI.
IT hardware companies such as Dell and HP are participating directly in the programme, while other players such as HPE, Lenovo, Acer, ASUS, and Thomson are taking part through Electronic Manufacturing Service (EMS) companies with manufacturing facilities in India, such as Flextronics and Rising Star.
Foxconn, the Apple's supplier had also applied for the PLI scheme through its subsidiary.
Among the domestic companies, Padget (Dixon), VVDN, Netweb, Syrma, Optiemus, Sahasra, Neolync, Panache, Sojo (Lava), and Kaynes Technologies had applied for the PLI scheme.
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“The list of eligible companies is likely to be released by September end or in early October," said the report citing the official.
In the first year of the PLI scheme almost every company will be allowed to continue their imports as usual and reduction in the import quota will start after September 2024, the official told the PTI.
All the companies have been asked to submit their import data of the last three years and the destination from where they import the devices.
Through the IT hardware PLI scheme 75,000 jobs are expected to be generated in electronic manufacturing and an incremental investment of ₹5,000 crore is also anticipated.
(With inputs from PTI)
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Source: Live Mint
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Opposition To Be Blamed If Next Lok Sabha Polls Turn Into ‘Sanatan Dharma-INDIA Bloc’ Contest
The opposition alliance will be responsible if next year's Lok Sabha elections turn into a “Sanatan Dharma versus INDIA bloc” contest, said Vishwa Hindu Parishad (VHP) working president Alok Kumar on Sunday.
Recently, DMK leaders Udhayanidhi Stalin and A Raja triggered a controversy after they claimed that Sanatan Dharma had sown divisions in society and must be eradicated on the lines of diseases like dengue, malaria and coronavirus.
DMK is a part of the opposition grouping of the Indian National Developmental Inclusive Alliance (INDIA) that has been formed to take on the ruling BJP in the 2024 general elections.
“If this happens, the responsibility for this will be on the INDIA bloc,” Kumar told PTI on Sunday in reply to a question about the possibility that next year's Lok Sabha elections will be contested on the issue of “Sanatan Dharma versus INDIA bloc”.
The VHP leader said that if religion and Hindutva are made an issue in the elections, then the responsibility will be on those who are giving statements against “Lord Ram and Ramcharit Manas”.
“These people will also have to suffer the consequences,” he said.
Kumar claimed that when Udhayanidhi was making objectionable statements about Sanatan Dharma, his mother was worshipping in a temple.
“Sanatan Dharma has deep roots. Anyone who challenges this religion will end up in the dustbin of history,” he said.
Kumar was in Indore of BJP-governed Madhya Pradesh to participate in a VHP event, “Shaurya Jagran Yatra”. Assembly elections in MP are due in a few months.
In his address before this march, the VHP leader challenged the INDIA bloc and Stalin, saying his organisation was ready for a “democratic war” for Sanatan Dharma.
“Sanatan Dharma endured the atrocities of the Mughals for 800 years and the conspiracies of the vicious British for 200 years. The rule of the Mughals and the British ended long ago, but Sanatan Dharma is alive,” he said.
Kumar also claimed that Lord Ram's temple will be inaugurated in Ayodhya during the third week of January next year.
“Last time Lord Ram returned to Ayodhya after 14 years of exile. This time, he will return to Ayodhya after 500 years. The Hindu community across the world will celebrate the inauguration of the temple,” he said.
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Allu Arjun's 'Pushpa 2
Pushpa 2 Release Date: Allu Arjun fans are eagerly waiting for his much anticipated film sequel to the 2021 film Pushpa: The Rise, which won the National Award for ‘Best Actor’ and ‘Best Music Director’. Monday evening, the producers of the upcoming Telugu film took to social media to finally reveal the release date of the film. The highly-anticipated sequel ‘Pushpa 2: The Rule’ will be released on August 15, 2024.
Mythri Moviemakers, the production house producing the movie, took to X (formally known as Twitter) to announce the release date of the sequel. Directed by Sukumar, the film is set to have Fahadh Faasil repeating his role as SP Bhanwar Singh Shekhawat and Rashmika Mandanna returning to her role as Molleti Srivalli. Allu Arjun is not visible on the new poster but his hand is seen with blood strains, adorned with rings and bracelets.
“Remember this date. Pushpa 2: The Rule will have a grand worldwide release on 15th August 2024. Pushpa Raj is back to rule the box office," the production house tweeted.
Source: Live Mint
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India can develop manufacturing ecosystem faster than China
Foxconn Technology Group chairman Young Liu has backed India as an important country for the future of manufacturing, saying that the opportunities for development of electronics manufacturing and industrial chains was very huge.
Speaking to media at a group event in Taipei, Liu said that India would be able to build the ecosystem faster than China, which took 30 years, on the back of experience and new technologies such as AI.
“Some of India's development over the past few years, everyone can see that. The time has about come for India's turn to start to fully develop as a country. If there's no big change, India will be a very important country in terms of manufacturing in the future," the chairman said.
“In the past, it took more than 30 years to build an ecosystem in China. Of course, it will also take an appropriate amount of time in India, but because it has appropriate experience, the time will be shorter, so it will have many similar situations to those when China was developing but it will be different from 30 years ago. The environment is not quite the same. At that time, there was no generative AI, or even AI, but now there is AI. Can its (India's) development be entirely inferred from part history? I don't think its perfect to speculate from history but we feel that development of the entire ecosystem and industrial chain, and the opportunities for development in India are very huge opportunities," Liu said.
His comments come at a time when India is attempting to position itself as an alternative manufacturing destination to China, and supplier in the global value chains, amid geo-political tensions that were leading to global companies shifting some of the manufacturing capacities out of the country. The South Asian nation is wooing global IT, electronics as well as semiconductor players, with schemes such as production linked incentive scheme and broader enabling policies which would give them a combination of talent and skill base besides a local vibrant market for sales as well as a base for exports to global markets. The initiatives appear to be attracting companies like Foxconn, with the group's India arm having applied as one of the 40 companies – alongside HP, Dell and Lenovo – for availing the incentives under the PLI scheme for making laptops, PCs and servers.
In July this year, while addressing SemiconIndia 2023, the chairman said that he was optimistic about the direction of India's semiconductor roadmap and asserted that Taiwan would be India's most trusted and reliable partner. “IT is India and Taiwan. Let's do this together," he had said. Foxconn has been operating in India since 2005, and has been making smartphones for Xiaomi over the past couple of years. Of late, the largest contract manufacturer of iPhones in the world is already the largest maker of iPhones in India as well. Foxconn is also applying for setting up a semiconductor manufacturing plant in India.
Chairman Liu was also reported to have said in the second quarter earnings call that the company's Indian arm has achieved a turnover of close to $10 billion on an annual basis, and that there is a lot of investment potential in India. He had said Foxconn operates nine campuses in India, across Andhra Pradesh and Tamil Nadu. It intends to expand its presence through manufacturing campuses in Karnataka and Telangana.
Indian government officials said that the Foxconn chief had backed PM Modi's Make in India and that reforms and policies in India had created huge opportunities for the development of the entire electronics manufacturing ecosystem.
Source: Live Mint
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Apple set to launch iPhone 15 series in India along with global debut
Apple is reportedly set to launch the iPhone 15 from its Chennai unit in India, aiming for a close-to-global release in mid-September, reducing the time lag compared to previous models. As per several media reports, production began in China in June, with components arriving in Indian facilities simultaneously.
The California based giant is gearing up for a significant development with the iPhone 15, and the noteworthy change this time around is the timing of its 'made-in-India' iPhone 15.
As per information reported by the Economic Times, Apple is striving to achieve a new milestone in India by introducing its latest model. The technology company is said to be actively working on unveiling the iPhone 15, which will be manufactured at Foxconn's Chennai facility, around mid-September.
This move aims to minimize the time gap between the Indian launch and the global release, possibly even resulting in a simultaneous debut in India, as indicated by sources familiar with the situation.
Last year, Apple's Foxconn facility in Chennai commenced production of the iPhone 14 just ten days after its worldwide launch, with Indian-made iPhones reaching the market approximately a month later.
The report from publication also highlights that this year, the time gap, if any, is expected to be reduced to just a few days, as all the necessary preparations for mass production of the iPhone 15 are already in progress. Reportedly, trial production of the iPhone 15 began in China in June at Foxconn's Zhengzhou factory, and components began arriving at Foxconn's Indian facilities around the same timeframe.
Moreover, Apple is aiming to kick off exports of the India-made iPhone 15 series devices in December 2023. Initially, these devices are intended to meet the demand in the local Indian market, which is anticipated to rise significantly during the festive season. Following December, there are reports suggesting that the company may commence iPhone 15 exports, including to regions like Europe and the US.
Source: Live Mint
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Lenovo Legion Go Handheld Gaming Device Unveiled
Lenovo is the latest brand to enter the budding handheld gaming segment with its Legion Go device. The company has unveiled the product at the IFA this week, giving gamers another option to enjoy portable gaming. The Lenovo Legion Go competes with products like the Asus ROG Ally which also runs on Windows 11. It is powered by an AMD CPU to give you PC-like performance on the go. Lenovo has also created a suite of accessories for Legion Go which will go on sale in the coming months.
Lenovo Legion Go will be available in the market from November this year and the company has priced the product at EUR 799 (Rs 71,200 approx). We still don't know if Lenovo will launch the Legion Go in India, considering the Asus Ally launched recently.
Right off the bat, you notice that the Lenovo Legion Go is a giant with its 8.8-inch QHD+ display that offers a 144Hz refresh rate for gamers. It is powered by an AMD Ryzen Z1 Extreme chip with 16GB RAM and up to 1TB storage.
But you have a card slot that allows you to expand the storage to 2TB. Lenovo has equipped the device with a cooling system that has a 79-blade fan yet operates quietly. This is another handheld device that runs on Windows 11 which allows gamers to easily access more titles and even offers a seamless link between the Legion Game Store and with Xbox Game Pass subscription.
You can customise the settings of the display to suit your preference. Lenovo is offering a large-capacity battery which is claimed to charge up to 70 per cent in half an hour. The device has a joystick with customisable RGB rings, controllers and an integrated trackpad to get you going.
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Dell Technologies Q2 revenue beats estimates
Dell Technologies shares rallied 8% in extended trading on Thursday after the company raised its full-year revenue and profit forecast.
The company forecast third-quarter revenue between $22.5 billion and $23.5 billion beating analysts' estimates of $21.67 billion, according to Refinitiv data. Dell expects earnings per share of $1.45, plus or minus 10 cents compared with estimates of $1.38, Reuters reported.
For the full year, Dell Technologies now expects revenue between $89.5 billion and $91.5 billion, and earnings per share of $6.30, plus or minus 20 cents, the report added.
Dell's second quarter revenue and EPS beat analyst estimates.
The company's servers and networking revenue during the second quarter rose 11% QoQ to $4.27 billion, driven by higher demand for AI-optimized servers.
Revenue at the company's client solutions group (CSG) - home to its consumer and enterprise PC business - increased 8% from the first quarter to $12.94 billion.
Also Read: OpenAI goes for Microsoft's pie with enterprise offering
The improved outlook comes as the company benefited from the artificial intelligence (AI) boom and stabilizing demand for computer hardware and server products.
The company is expected to see a demand boost for its PowerEdge servers and generative AI designs with Nvidia from rising investments in AI by Big Tech companies.
“AI is already showing it's a long-term tailwind, with continued demand growth across our portfolio," Chief Operating Officer Jeff Clarke said.
(With inputs from Reuters)
Source: Live Mint
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Dell, HP, Foxconn, and others in line for state aid in production
Amid central government's push to make a manufacturing hub for the world, its financial incentive plan to boost local production is receiving good response. Till now, some of the world's biggest firms like Dell Technologies Inc. , HP Inc. and Apple Inc. supplier Foxconn Technology Group, have applied for the scheme.
Indian Premier Narendra Modi's $2.1 billion financial incentive plan — a bid to boost local production of technology hardware such as laptops, personal computers, tablets and servers — has received an overwhelming industry response, Tech Minister Ashwini Vaishnaw said Wednesday.
Under the plan, firms are entitled to incentives and subsidy by sourcing locally produced components. As per the scheme, companies are entitled to cash back of almost 5% of factory prices of finished products.
Under the plan some of 32 cmpanies, including units of homegrown contract manufacturers like Optiemus Electronics Ltd. and Dixon Technologies India Ltd., had applied for the incentives before the application process closed at midnight on Aug. 30.
Recent launch of incentive scheme, is an effort to attain a success of incentives it achieved in 2020. During that year, the government's introduced to jump-start the local assembly of smartphones. Under this plan, Apple manufacturer, Foxconn, was able to increase 7% of its global iPhone output from India last financial year. Other than Apple, other global firms like, Wistron Corp, and Pegatron Corp also strengthened their presence in India.
Prime Minister Narendra Modi expects companies to make an incremental investment of 34.3 billion rupees ($294 million). The investment is expected to convert into an additional production output worth 3.35 trillion rupees under its sixth year plan.
“India is emerging as a very trusted supply chain partner and also a value chain partner because it has good capabilities in design," Vaishnaw said in New Delhi, reported Bloomberg. He also told that companies could begin the production under the plan as soon as early next year.
Apple yet to apply for MacBook laptops and iPad production in India
Apple has yet to apply for incentives to locally assemble its laptops and iPad tablets, reported Bloomberg citing officials.
All of the applicants might not win the approvals for the financial stimulus. The smartphone incentives have shown that such programs usually work well with a few companies that can increase production rapidly, and win bigger cash returns.
The IT hardware manufacturing drive also seeks to penalize companies if production lags behind the set thresholds, by deducting as much as 10% from the subsidies.
To push companies to begin local assembly of IT hardware, India announced plans to impose a new license requirement for tech imports starting Nov. 1, spanning everything from laptops and tablets to servers and components for data centers. US tech companies have protested the move.
(With inputs from Bloomberg)
Source: Live Mint
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HP, Dell, Acer & others apply for IT Hardware PLI 2
New Delhi: Leading global information technology hardware makers including Hewlett-Packard, Dell India, Foxconn Group, Hewlett-Packard Enterprises, Acer, Thomson, electronic manufacturing services providers and a host of domestic companies such as Dixon Technologies, VVDN and Netweb are among the 32 applicants under the IT Hardware PLI 2.0 scheme.
Electronics, IT and telecom minister Ashwini Vaishnaw said on Wednesday that the response to the scheme was better than anticipated and the government is expecting to get investments worth ₹2,430 crore, which will generate direct employment for 75,000 people while generating incremental production worth ₹3.35 trillion.
“The companies are coming and everybody is working on developing their local supply chain," Vaishnaw said, adding that the production, as required under the scheme, is expected to begin within FY24. Companies will get a choice between FY24 and FY25 to begin availing the incentives under the scheme. “India is emerging as a trusted supply chain partner and value-added partner ... companies are happy to come to India for manufacturing and design," the minister added.
This May, the government had approved a six-year PLI scheme for IT hardware products – laptops, tablets, all-in-one personal computers, servers and ultra small form factor devices – with an outlay of ₹17,000 crore, in the hope that it would attract top hardware companies such as HP, Dell and Apple to India. Apple has not applied under the scheme, but one of its contract manufacturers, Foxconn, under Rising Stars Hi Tech is one of the 32 applicants. Meanwhile, HPE announced a few weeks ago that it would invest $1 billion in India.
Among the local electronics manufacturing players, Dixon Technologies' subsidiary Padget Electronics, and Optiemus Electronics have applied for the scheme as well.
Vaishnaw clarified that the companies did not communicate any concern or issues with the upcoming restriction on imports of laptops, tablets, all-in-one personal computers, servers and ultra small form factor devices, when asked by the government in a recent meeting.
Several of the companies that have applied for the PLI scheme are likely to be impacted by the import restrictions that will come into effect from 1 November, 2023. The companies will have to mandatorily take licences for importing the products, which would be issued by customs authorities. Many of the companies that have headquarters in the US have also sought government-backed intervention in putting a stop to the import restrictions.
“There will be no disruption, all companies that apply will be issued the licences," a senior ministry official said, asking not to be named.
The second version of the scheme appears to have been better received than the first one that was issued in 2021 with an outlay of about ₹8,000 crore but received a lukewarm response with most global players staying away. As per the IT hardware PLI 2.0 scheme, an incentive of 5% will be provided by the government on net incremental sales over the base year, of goods manufactured in India, compared to 2% earlier, where the base year can be chosen starting from will be FY23.
The scheme also provides for flexibility as the investments can be done over six years, instead of four years earlier. Companies opting for the scheme will get additional optional incentive – of another 3% - if they use India-made and designed components, sub-systems or inputs. Also, the companies can take Indian contract manufacturers on board, and avail incentives if the contractors are producing for a single company. Investments from Chinese manufacturers would also be allowed in accordance with existing regulations.
“Netweb has been already successfully running the earlier PLI and we are quite excited to be participating in PLI 2.0. Importantly, the scheme facilitates a smooth transition for entities previously engaged in PLI 1.0, presenting us with the opportunity to seamlessly migrate while potentially achieving a 'plus' applicant status," Sanjay Lodha, CMD of Netweb Technologies, told Mint. Server maker Netweb is one of the three recipients of incentives under the PLI 1.0 version of the scheme, where the total incentives given out were under ₹60 crore.
"HP is a longstanding partner of India's digital transformation journey and one of the pioneers of the country's IT manufacturing sector. We welcome the PLI scheme for IT hardware manufacturing and look forward to exploring new opportunities to meet the growing demand for PCs. India is a dynamic growth market and we are excited about the possibilities ahead," an HP India spokesperson said.
Source: Live Mint
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Foxconn, Dell, Lenovo in List of 32 Companies to Apply for PLI Scheme for IT Hardware Manufacturing
The central government has received 32 applications, including big names like Foxconn, HP, Dell and Lenovo, for participation in the Production Linked Incentive Scheme 2.0 for IT Hardware, as on August 30. The ambitious scheme has generated significant interest, said IT minister Ashwini Vaishnaw.
Prominent global companies like Foxconn, HP, Dell, Lenovo, Thompson, Acer and Asus, have submitted their applications for participation in the scheme. These industry giants are poised to play a significant role in reshaping India's IT hardware landscape and the Centre is hopeful of a major change similar to what is being seen in the smartphone sector.
Notably absent from the list of applicants is Apple Inc. But, government officials remain optimistic and said the tech behemoth will join the initiative in the near future. Apple's potential involvement could further boost the scheme's transformative potential.
Here's a list of applicants for the PLI Scheme 2.0:
This scheme for IT hardware covers a diverse range of products, including laptops, tablets, all-in-one PCs, servers and ultra-small form-factor devices. It is designed to revive the IT hardware sector, for which the government has allocated a substantial budgetary outlay of Rs 17,000 crore; this signals a commitment to bolstering the industry as well.
It is set to span six years, which will help provide a stable and conducive environment for companies to make long-term investments and strategic decisions. The scheme also aims at driving growth in the IT hardware sector with an expected incremental production value of Rs 3.35 lakh crore. It is also expected to attract an incremental investment of Rs 2,430 crore, creating an estimated 75,000 direct jobs.
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