The federal government in February 2021 accepted the PLI scheme for IT {hardware}. (File)
New Delhi:
The Cupboard, chaired by Prime Minister Narendra Modi, on Wednesday accepted the Manufacturing Linked Incentive Scheme 2.0 for IT {hardware} with a budgetary outlay of Rs 17,000 crore.
Electronics manufacturing in India has witnessed constant development with a 17 per cent compound annual development fee (CAGR) within the final 8 years to cross a serious benchmark in manufacturing — USD 105 billion (about Rs 9 lakh crore) — this yr.
“For IT PLI, the budgetary outlay is Rs 17,000 crore. The tenure of the programme is 6 years,” Union Minister for IT and Telecom Ashwini Vaishnaw advised reporters after the cupboard assembly.
PLI Scheme 2.0 for IT {hardware} covers laptops, tablets, all-in-one PCs, servers and ultra-small type issue gadgets.
The minister mentioned the scheme is anticipated to result in incremental manufacturing of Rs 3.35 lakh crore, incremental funding of Rs 2,430 crore and create incremental direct employment for 75,000 folks throughout the scheme interval.
The federal government in February 2021 accepted the PLI scheme for IT {hardware}, protecting the manufacturing of laptops, tablets, All-in-One PCs and servers with an outlay of Rs 7,350 crore.
Nevertheless, business gamers had requested the federal government to reinforce outlay for the phase.
PLI Scheme, launched in April 2020 with a give attention to cell phone manufacturing, has given an enormous increase to electronics manufacturing within the nation.
India has grow to be the world’s second-largest producer of cell phones. Exports of cell phones crossed a serious milestone of USD 11 billion (about Rs 90 thousand crore) in March.
The worldwide electronics manufacturing ecosystem is coming to India, and it’s rising as a serious electronics manufacturing nation.
Constructing on the success of the Manufacturing Linked Incentive scheme (PLI) for cell phones, the Union Cupboard has accepted PLI Scheme 2.0 for IT {hardware}.
(Apart from the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)
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