PLI scheme: Govt grants approvals to 27 firms under new IT hardware PLI scheme

These 27 companies have in total submitted proposals for investment of Rs 3000 crore over the next five years, with an incremental production value expected to be around Rs 3.5 lakh crore, Union electronics and information technology minister Ashwini Vaishnaw said.

“Of these, 23 companies are ready to start their manufacturing on Day Zero while the other four will start production within the next 90 days. It is a very good preparation and I am very happy that the industry is moving at this pace,” Vaishnaw said.

The government expects a total of 50,000 direct jobs and 150,000 indirect jobs to be created, he said.

ET had on November 10 reported that the government is likely to clear the proposals for IT hardware manufacturing of at least 10 companies including the likes of Dell, HP India, Lenovo, and others.

In August, the government had said that it had received proposals from 40 companies with expected incremental investments of Rs 5,010 crore. This was towards additional production worth Rs 4.65 lakh crore over six years, including exports of Rs 28,288 crore during the period.

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Earlier in May, the government had notified the second phase of the PLI scheme for IT hardware with a budgetary outlay of Rs 17,000 crore, more than doubling the incentives it had offered in the first phase with an a budgetary outlay of Rs 17,000 crore, more than doubling the incentives it had offered in the first phase with an aim to attract global companies to manufacture in India.

These 27 companies have in total submitted proposals for investment of Rs 3000 crore over the next five years, with an incremental production value expected to be around Rs 3.5 lakh crore, Union electronics and information technology minister Ashwini Vaishnaw said.

“Of these, 23 companies are ready to start their manufacturing on Day Zero while the other four will start production within the next 90 days. It is a very good preparation and I am very happy that the industry is moving at this pace,” Vaishnaw said.

The government expects a total of 50,000 direct jobs and 150,000 indirect jobs to be created, he said.

ET had on November 10 reported that the government is likely to clear the proposals for IT hardware manufacturing of at least 10 companies including the likes of Dell, HP India, Lenovo, and others.

In August, the government had said that it had received proposals from 40 companies with expected incremental investments of Rs 5,010 crore. This was towards additional production worth Rs 4.65 lakh crore over six years, including exports of Rs 28,288 crore during the period.

Discover the stories of your interest

Earlier in May, the government had notified the second phase of the PLI scheme for IT hardware with a budgetary outlay of Rs 17,000 crore, more than doubling the incentives it had offered in the first phase with an a budgetary outlay of Rs 17,000 crore, more than doubling the incentives it had offered in the first phase with an aim to attract global companies to manufacture in India.