Govt expects Rs 34,090-crore investment under PLI scheme for electronics manufacturing
- ByStartupStory | February 5, 2022
The authorities are anticipating an investment of Rs 34,090 crore underneath the PLI scheme for big-scale electronics manufacturing, especially cellular phones and electronic additives, via 2025, Parliament was informed on Friday. The government has permitted proposals of 20 agencies under the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), inclusive of that of Tata Electronics, till January 27.
Around Rs 20,000 crore is expected to come from electronic additives and semiconductor agencies and Rs 14,090 crore from 32 proposals accepted underneath the manufacturing linked incentive (PLI) scheme for massive scale electronics production, Minister of nation for electronics and IT Rajeev Chandrasekhar stated in a written reply to the Rajya Sabha.
“Under the SPECS Scheme, funding to the tune of Rs 20,000 crore is anticipated. The general employment ability (both direct and indirect) of the scheme is approximately 6 lakh,” the minister said.
Leading contract producers of Apple — Foxconn, Pegatron and Wistron, South Korean electronics principal Samsung, Indian companies Lava, Jio’s Neolync, Optiemus Electronics and many others — have participated in PLI for massive scale electronics production.
“In the aforementioned PLI schemes for large scale electronics manufacturing and IT hardware, the quantity of investment anticipated to be delivered with the aid of the accredited candidates is Rs 14,090 crore. The total employment (each direct and oblique) expected to be generated during the tenure of the schemes is about 8.Fifty seven lakh,” Chandrasekhar stated.
The Ministry of Electronics and IT has accepted 16 proposals underneath the second one spherical of PLI for huge scale electronics manufacturing for electronic components which incorporates Vishay Components, Deki Electronics, Continental Device India, Salcomp Technologies and so forth.Meity has authorized 14 proposals under PLI for IT hardware which incorporates Dell, Foxconn subsidiary Rising Stars, Flextronics, Dixon Technologies, Panache Digilife, Netweb Technologies, Smile Electronics and many others.
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