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Dell, HP, Foxconn, Lenovo among 27 firms granted approval under new IT hardware PLI scheme

18Nov

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Dell, HP, Foxconn, Lenovo among 27 firms granted approval under new IT hardware PLI scheme

NEW DELHI: The Centre on Saturday said approval for participation in the new Production-Linked Incentive (PLI) scheme for IT hardware has been granted to 27 companies, including major players such as Dell, HP, Foxconn, and Lenovo.This development aligns with India's proactive strategy to attract IT hardware companies through enticing policies and incentive programmes, with the overarching goal of positioning itself as a leading global hub for cutting-edge manufacturing.The anticipated investment from these 27 approved companies is estimated to reach Rs 3,000 crore.Expressing satisfaction, IT minister Ashwini Vaishnaw said: "I am delighted to announce that 27 companies have secured approval under the PLI IT hardware scheme. Nearly 95% of these companies are geared up to commence manufactur...

Committee in PLI scheme approves Rs 1,000 cr disbursement to beneficiaries

The Empowered committee in PLI (production-linked incentive) scheme has approved Rs 1,000 crore disbursement to beneficiary firms of the electronics sector, a top government official said. The government disbursed Rs 2,900 crore till March 2023, out of claims worth Rs 3,400 crore received under the scheme, which aims at boosting domestic manufacturing, creating jobs and supporting exports. "In the recent meeting of the committee, Rs 1,000 crore disbursements were approved under the PLI scheme for the electronics sector. Actual disbursement to the beneficiary companies would take a few more days," the official said. This would be the first disbursement of this fiscal. The scheme was announced in 2021, for 14 sectors including large-scale electronic manufa...

Amid tepid utilisation of funds, govt to review PLI scheme on Tuesday

The Centre on Tuesday will review its ambitious production-linked incentive (PLI) scheme to sort out teething issues faced by beneficiaries of the scheme, and the focus will mainly be on sectors where the progress has been slower-than-expected. Commerce and industry minister Piyush Goyal will hold the first-of-its kind review meeting that will see officials from all the ministries responsible for rolling out the PLI scheme. The meeting will also see participation from the beneficiaries or the companies participating in the scheme. The Centre has allocated Rs 1.97 trillion towards PLI schemes for 14 key sectors, including telecom, textiles, automobiles, white goods and pharmaceutical drugs, among others. This scheme not only aims to boost domestic manufacturing, but al...