Dell, Foxconn, Lava apply under PLI scheme for IT hardware (Lead)

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New Delhi, May 4 | A total of 19 companies have filed applications under the production linked incentive (PLI) scheme for IT hardware, including Dell, Rising Stars Hi-Tech (Foxconn), and Lava.

The other electronics hardware manufacturing companies that have applied under category are ICT (Wistron) and Flextronics, said an official statement.

Further, 14 companies have filed applications under the category Domestic Companies which include Dixon, Infopower (JV of Sahasra and MiTAC), Bhagwati (Micromax), Syrma, Orbic, Neolync, Optiemus, Netweb, VVDN, Smile Electronics, Panache Digilife, HLBS, RDP Workstations, and Coconics.

These companies are expected to expand their manufacturing operations in a significant manner and grow into national champion companies in IT hardware production, said an IT Ministry statement.

The PLI scheme for IT hardware was notified on March 3 this year. The scheme extends an incentive of 4 per cent to 2 per cent/1 per cent on net incremental sales (over base year of FY 2019-20) of goods under target segments that are manufactured in India to eligible companies, for a period of four years (FY 2021-22 to FY 2024-25).

Union Electronics and IT Minister Ravi Shankar Prasad said that the PLI scheme for IT Hardware has been huge success in terms of the applications received from global as well as domestic companies engaged in manufacturing electronics hardware products.

“We are optimistic and looking forward to building a strong ecosystem across the value chain and integrating with the global value chains, thereby strengthening electronics manufacturing ecosystem in the country,” he said.

The target IT hardware segments under the proposed scheme include laptops, tablets, all-in-one personal computers (PCs) and servers. The scheme proposes production linked incentives to boost domestic manufacturing and attract large investments in the value chain of these IT hardware products.

Over the next four years, the scheme is expected to lead to total production of about Rs 1.60 lakh crore. Out of the total production, IT hardware companies have proposed a production of over Rs 1.35 lakh crore, and domestic companies have proposed a production of over Rs 25,000 crore.

Out of the total production of Rs 1.60 lakh crore in the next four years, more than 37 per cent will be contributed by exports of the order of Rs 60,000 crore, the ministry statement said.

The scheme will bring additional investment in electronics manufacturing to the tune of Rs 2,350 crore and generate around 37,500 direct employment opportunities in next four years along with creation of additional indirect employment of nearly three times the direct employment.

India Cellular & Electronics Association (ICEA) Chairman Pankaj Mohindroo said: “This is a testimonial to India’s capacity to become the manufacturing hub for IT hardware. The world is looking at India as a destination to manufacture and participation in the scheme by the global companies are a resounding vote of confidence to the current government’s policies.”

ICEA is also delighted to see the emergence of the Indian champions a big step towards “Atmanirbhar Bharat”, he added.

Source: IANS

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Handicraft Furniture setting a new trend in the interior and home décor industry

Handicraft Furniture setting a new trend in the interior and home décor industry

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Antique Handicraft Furniture

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