India’s IT hardware sector received a significant boost as 27 companies secured approval under the Production Linked Incentive Scheme (PLI), according to Union Minister for Communications, Electronics and IT, Ashwini Vaishnaw. This achievement was announced Vaishnaw, who highlighted that nearly 95% of these companies are ready to begin manufacturing immediately. The remaining four companies are set to commence production within the next 90 days. The approved applications are expected to result in an additional investment of Rs 3,000 crores, with an overall production value of Rs 3.5 lakh crores, and direct employment opportunities for approximately 50,000 people, along with indirect employment for around 1.5 lakh, contributing to a total employment creation of 2 lakh.
The 27 companies that secured PLI approval include major players like Dell, Foxconn, HP, Flextronics, Lenovo, and others. This marks a significant shift in the value chain toward India. The PLI Scheme for IT Hardware, with a budgetary outlay of Rs 17,000 crores, aims to enhance the IT hardware manufacturing ecosystem in the country encouraging local manufacturing and the development of a robust supply chain.
Vaishnaw also reported a strong response to the PLI scheme for laptops and PCs, which received 32 applications, including from major players like HP India, Dell, Acer, and Lenovo. This scheme is expected to bring a significant boost to the production, investment, and employment in the IT hardware sector.
The PLI schemes form a part of India’s Atmanirbhar and ‘Make-in-India’ initiatives, aiming to enhance global competitiveness, attract investments, boost exports, integrate India into the global supply chain, and reduce dependency on imports across various sectors. The announcement demonstrates India’s commitment to fostering a strong and sustainable manufacturing ecosystem in the IT hardware sector.