PLI scheme: Tapping India's manufacturing capabilities! Big step from Modi government to woo global players
To woo global players to tap India's manufacturing capabilities, Modi government on Wednesday approved a production-linked incentive (PLI) scheme for laptops, tablets, all-in-one PCs and servers.
To woo global players to tap India's manufacturing capabilities, Modi government on Wednesday approved a production-linked incentive (PLI) scheme for laptops, tablets, all-in-one PCs and servers. The approval of PLI scheme for these hi-tech IT hardware gadgets comes after the Cabinet last week cleared a Rs 12,195 crore scheme for telecom equipment manufacturing.
Production-linked incentive (PLI) scheme
Briefing reporters after a meeting of the Cabinet, Communications and IT Minister Ravi Shankar Prasad said the Cabinet cleared the about Rs 7,350 crore PLI scheme for IT hardware that would cover laptops, tablets, all-in-one PCs and servers.
The scheme would position India as a manufacturing hub, spur exports and create new jobs opportunities, Prasad added.
Incentives worth Rs 7,350 crore will be provided over four years for manufacturing of these products in India. Production worth Rs 3.26 lakh crore and exports worth Rs 2.45 lakh crore are estimated over the four year timeline.
Meanwhile, the government approved Production Linked Incentive (PLI) scheme for pharmaceuticals as well. Centre said the move will bring investments of Rs 15,000 crore into the sector. The scheme will benefit domestic manufacturers, spur job opportunities and contribute to availability of wider range of affordable medicines for consumers. It is expected to bring in investment of Rs 15,000 crore in the pharmaceutical sector.
The PLI scheme for pharma is expected to promote the production of high-value products in the country and increase the value addition in exports. Total incremental sales of Rs 2,94,000 crore and incremental exports to the tune of Rs 1,96,000 crore are expected during six years from 2022-23 to 2027-28, the release added.
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