The authorities in February 2021 authorised the PLI scheme for IT {hardware}. (File)
New Delhi:
The Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday authorised the Production Linked Incentive Scheme 2.0 for IT {hardware} with a budgetary outlay of Rs 17,000 crore.
Electronics manufacturing in India has witnessed constant development with a 17 per cent compound annual development price (CAGR) within the final 8 years to cross a serious benchmark in manufacturing — USD 105 billion (about Rs 9 lakh crore) — this 12 months.
“For IT PLI, the budgetary outlay is Rs 17,000 crore. The tenure of the programme is 6 years,” Union Minister for IT and Telecom Ashwini Vaishnaw advised reporters after the cupboard assembly.
PLI Scheme 2.0 for IT {hardware} covers laptops, tablets, all-in-one PCs, servers and ultra-small kind issue units.
The minister stated the scheme is predicted to result in incremental manufacturing of Rs 3.35 lakh crore, incremental funding of Rs 2,430 crore and create incremental direct employment for 75,000 individuals throughout the scheme interval.
The authorities in February 2021 authorised the PLI scheme for IT {hardware}, overlaying the manufacturing of laptops, tablets, All-in-One PCs and servers with an outlay of Rs 7,350 crore.
However, trade gamers had requested the federal government to reinforce outlay for the section.
PLI Scheme, launched in April 2020 with a concentrate on cell phone manufacturing, has given an enormous increase to electronics manufacturing within the nation.
India has grow to be the world’s second-largest producer of cell phones. Exports of cell phones crossed a serious milestone of USD 11 billion (about Rs 90 thousand crore) in March.
The international electronics manufacturing ecosystem is coming to India, and it’s rising as a serious electronics manufacturing nation.
Building on the success of the Production Linked Incentive scheme (PLI) for cell phones, the Union Cabinet has authorised PLI Scheme 2.0 for IT {hardware}.
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