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New Delhi: The Union Cabinet has approved the Production Linked Incentive Scheme (PLI) for IT hardware. 17 thousand crore rupees will be spent on this budget. The duration of the program is 6 years. This leads to Rs. 2,430 crore investment is likely to be received.
The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved PLI Scheme 2.0 for IT hardware. This includes laptops, tablets, all-in-one PCs, servers and ultra small form factor devices.
Informing about the cabinet’s decision, Union Minister Ashwani Vaishnav said that the PLI scheme has been successful in the field of manufacturing of electronic components, mobile and telecom equipment. This has increased production in these areas and India has become a major exporter from them.
He said that now the government has come up with a plan for the IT hardware sector as well. With this, the production of this sector will increase to 3.35 lakh crore rupees. 2,430 crore rupees will be invested in this sector and 75 thousand people will get direct employment. At the same time, more than 2 lakh jobs will be created indirectly.
According to the government, India is emerging as a reliable supply chain partner for all global majors. Major IT hardware companies have shown interest in setting up manufacturing facilities in India. This is supported by a strong IT services industry with good demand within the country. Most of the big companies are looking to supply the domestic markets located in India as well as making India an export hub.
