Cabinet Decisions: The government has approved the Production Linked Incentive (PLI) scheme for laptops, tablets, all in one PCs and servers on Wednesday. The government’s objective is to use India’s manufacturing capabilities to global companies. Last week, before approving the PLI scheme for high tech IT hardware gadgets, the cabinet approved a scheme of Rs 12,195 crore for the manufacturing of telecom equipment.
Cabinet approves Production Linked Incentive Scheme for IT Hardware; scheme proposes incentive to boost domestic manufacturing & attract large investments in value chain of IT Hardware. Target segments include laptops, tablets, all-in-one PCs & servers: Union Minister RS Prasad pic.twitter.com/P1IoGlS4j2
– ANI (@ANI) February 24, 2021
7,350 crore scheme for IT hardware
While giving a press conference after the cabinet meeting, Communications and IT Minister Ravi Shankar Prasad said that the cabinet has approved a PLI scheme of around Rs 7,350 crore for IT hardware, which allows laptops, tablets, all in one PCs and servers Will cover Prasad further said that the scheme will establish India as a manufacturing hub, boost exports and create new job opportunities.
Incentives worth Rs 7,350 crore will be made available for the manufacture of these products in India during the next four years. A production of Rs 3.26 lakh crore and Rs 2.45 lakh crore is estimated in a time frame of four years.
Availability of affordable medicines will help
Apart from this, the Modi Cabinet has also approved the Production Linked Incentive (PLI) scheme for pharmaceuticals. This scheme is for the period from FY 2020-21 to 2028-29. The government said in the statement that the scheme will benefit domestic manufacturers, help create job opportunities and will also contribute to the availability of affordable medicines for customers. According to the statement, the scheme is expected to create job opportunities for both the skill and non-skill people. Among these, 20 thousand direct and 80 thousand indirect jobs are estimated from the growth of the sector.