PLI Scheme Boosts Electronics Manufacturing To Rs 5.14 Lakh Crore
Notable firms that have met the criteria for receiving benefits under PLI include key Apple suppliers such as Taiwan's Foxconn and Wistron, as well as other industry giants like Samsung and Pegatron.
As of June 2024, the manufacturing of mobile devices, including both electronic parts and semiconductor packaging, has achieved a significant milestone under the Production Linked Incentive (PLI) programme for large-scale electronics production. The government reported to Parliament on Friday that the total output value had reached Rs 5.14 lakh crore, according to news agency PTI.
Apple Supplier Foxconn, Samsung Qualify For PLI Incentives
The Production Linked Incentive scheme has attracted several major players in the mobile manufacturing industry. Notable companies that have met the criteria for receiving benefits under this programme include key Apple suppliers such as Taiwan's Foxconn and Wistron, as well as other industry giants like Samsung and Pegatron.
This initiative aims to boost domestic manufacturing in the electronics sector, with a particular focus on mobile phone production and related components.
"Till June 30, 2024, incremental investment of Rs 8,390 crores had been made under the PLI scheme. This has led to production of Rs 5,14,960 crores till Jun. 30, 2024," Prasada was quoted as saying by PTI.
Also read: In A Big Move, Apple May Start iPad Production In Tamil Nadu With Foxconn
On Friday, Jitin Prasada, the Minister of State (MoS) for Electronics and Information Technology, provided a written response to the Rajya Sabha regarding government initiatives in the electronics sector. He explained that the Production Linked Incentive (PLI) scheme for large-scale electronics manufacturing was officially announced on April 1, 2020. This policy aims to stimulate domestic production and draw investments into the mobile phone industry, including its supply chain of electronic components and semiconductor packaging. The scheme is part of the government's broader strategy to enhance India's manufacturing capabilities in the electronics sector.
In addition to this, Minister Prasada highlighted another initiative aimed at boosting the electronics manufacturing ecosystem. He mentioned that on April 1, 2020, the government introduced the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS). This program's scope is broad, encompassing various sectors within the electronics industry. It offers incentives for the production of electronic components, the recycling of electronic waste, and the manufacturing of mechanical parts. The scheme also extends to the fabrication of micro and nano-electronic components, as well as materials used in solar energy production, such as photovoltaic polysilicon.
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