In the category of domestic companies, 10 companies have been approved which include Lava International Limited, Dixon Technologies (India) Limited, Netweb, Smile Electronics among others.
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The government on Thursday said 14 companies, including Dell, Lava, Dixon, Wistron and Foxconn, have been approved under the Production Linked Incentive (PLI) for information technology hardware. Over the next four years, these companies are expected to boost total production to over Rs 1.61 lakh crore and create direct employment opportunities for over 36,000 people.
The PLI Scheme for IT Hardware has been notified on March 3, 2021. It will provide one to four per cent to eligible companies on net increased sales based on FY 2019-20 under Target Product Manufactured in India for a period of four years (FY 2021-22 to FY 2024-25). gives encouragement.
Under this, 10 companies got approval
In the category of domestic companies, proposals of 10 companies have been approved, these include Lava International Limited, Dixon Technologies (India) Limited, Netweb, Smile Electronics among others.
Electronics and Information Technology Minister Ravi Shankar Prasad said that the scheme has been very successful in terms of applications received from global as well as domestic manufacturing companies. “We look forward to building a robust ecosystem in the value chain and linking it to global value chains, which will strengthen the electronic manufacturing system in the country,” he said.
Recently, the duration of the PLI scheme increased by one year
The government recently extended the duration of the PLI scheme by one year to 2025-26. The base year for this scheme will remain 2019-20 but companies will have the option to choose the base year 2020-21 year for calculating the period of incentive of five years.
Recently, while announcing new measures for the revival of the economy affected by the COVID crisis, Finance Minister Nirmala Sitharaman said that “Now we have extended the duration of the scheme to 2025-26”. Companies which have also invested in 2020-21 will also be taken under the scheme. Because we have given an option in selecting a period of five years to meet the production target under the scheme.
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