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HP, Dell, Foxconn sign up for PLI 2.0
Mint Mumbai
|August 31, 2023
38 applicants in total; Centre sees ₹3.35 tn incremental output
Top multinationals such as Hewlett Packard Enterprise Development LP, HP Inc., Dell Inc., Foxconn Technology Group, Acer Inc. and Thomson, and domestic companies including Dixon Technologies (India) Ltd, VVDN Technologies and Netweb Technologies, are among 38 aspirants for India’s IT Hardware PLI 2.0 scheme, marking a win for the government attempting to incentivize local manufacturing of laptops, tablets and servers.
Electronics, IT and telecom minister Ashwini Vaishnaw said on Wednesday evening that response to the scheme was more than anticipated. He said the government is expecting investments of ₹4,000 crore, generating direct employment for 75,000 people, and incremental production of ₹3.35 trillion.
As of late night, before the deadline, 38 applications had been received, amounting to a subscription of ₹22,880 crore, far higher than the ₹17,000 crore budgeted outlay for the scheme. “The companies are coming and everybody is working on developing their local supply chain," Vaishnaw said, adding production under the scheme is expected to begin this fiscal year itself. Companies will get a choice between FY24 and FY25 to begin availing of incentives under the scheme.
“India is emerging as a trusted supply-chain partner and value-added partner... companies are happy to come to India for manufacturing and design," he added.
This story is from the August 31, 2023 edition of Mint Mumbai.
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