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Production-Linked Incentive Scheme For Large-Scale Electronics Manufacturing

Production-Linked Incentive Scheme For Large-Scale Electronics Manufacturing:

The Empowered Committee headed by CEO, NITI Aayog Parameswaran Iyer approved first ever disbursement of incentive for mobile manufacturing under the large-scale electronics manufacturing’ sector.

  • The Production-Linked Incentive scheme for Large-Scale Electronics Manufacturing is expected to make India a competitive destination for electronics manufacturing.
  • It will also give a boost to Aatmanirbhar Bharat while creating more global champions.
  • Padget Electronics Private Limited, a domestic company, is the first beneficiary approved by the Empowered Committee to receive incentive under mobile manufacturing based on its incremental investment and sales figures.
  • NITI Aayog said, thirty-two beneficiaries had been approved under the PLI scheme for Large-Scale Electronics Manufacturing. Of which five global and five domestic companies were approved for mobile manufacturing.
  • The PLI scheme on Large-Scale Electronic Manufacturing, which includes manufacturing of mobile phones and manufacturing of specified electronic components, was approved in March 2020, with a total outlay of Rs 38,645 crores.