Out of the entire manufacturing, IT hardware companies have proposed manufacturing price over Rs 1.35 lakh crore, and home firms have proposed manufacturing to the tune of greater than Rs 25,000 crore, Meity stated in a press release.
“The electronics hardware manufacturing companies that have applied under category IT Hardware Companies are Dell, ICT (Wistron), Flextronics, Rising Stars Hi-Tech (Foxconn) and Lava,” Meity stated.
Fourteen other firms have filed purposes under the class of home firms. They are Dixon, Infopower (JV of Sahasra and MiTAC), Bhagwati (Micromax), Syrma, Orbic, Neolync, Optiemus, Netweb, VVDN, Smile Electronics, Panache Digilife, HLBS, RDP Workstations and Coconics.
“These companies are expected to expand their manufacturing operations in a significant manner and grow into national champion companies in IT Hardware production,” the assertion stated.
Production Linked Incentive (PLI) scheme for IT Hardware was notified on March 3. The scheme supplies an incentive of 1 to 4 per cent to eligible firms on internet incremental gross sales over the bottom 12 months of FY 2019-20 of products under goal segments which are manufactured in India for a interval of 4 years (FY 2021-22 to FY 2024-25).
Electronics and IT minister Ravi Shankar Prasad stated the PLI scheme for IT Hardware has been an enormous success by way of the purposes obtained from world in addition to home firms engaged in manufacturing electronics hardware merchandise. Industry has reposed its religion in India’s stellar progress as a world class manufacturing vacation spot and this resonates strongly, he added.
The scheme will generate roughly 37,500 direct employment alternatives within the subsequent 4 years together with creation of extra oblique employment of practically 3 times the direct employment, the assertion stated.