Connect with us

Headlines of the Day

2-3 eligible applicants may meet targets for IT hardware PLI

Of the 14 eligible companies, only two or three companies could meet their first year targets for the IT Hardware Production-Linked Incentive (PLI) scheme for the fiscal year ending March 31. Others have pointed to persistent global supply chain problems and chip shortages to undermine their local production plans.

Dell, among the global applicants and through Micromax, Bhagwati Products Limited, is likely to meet its first year target, a number of people familiar with the matter said. Another acquaintance said that Dixon Technology could also “scrap through” to meet its first year goal.

On March 3, 2021, the government announced the Hardware PLI Scheme with an incentive of Rs 7,350 crore, under which 14 companies were selected. Global companies included Dell, ICT (Western), Flexetronics and India FIH – formerly known as Rising Star Hi-Tech (Foxconn) – to build laptops, tablets, all-in-one personal computers (PCs) and servers. Under the domestic division, Lava, Dixon Technologies, Infopower Technologies (JV of Millennials and MITAC), Bhagwati (Micromax), Neolink, Optimus, Netweb, Smile Electronics, VVDN and Panache were disseminated.

Because three times the incentive corpus is sought
Confirming the development, Dell said “Our production and production is on track to meet the initial commitments we made.”

To qualify for the first year incentive of 4% in cash back, international companies have to record net increased sales of Rs 1,000 crore, whereas the target for local companies was Rs 50 crore. Defence93

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Copyright © 2024 Communications Today

error: Content is protected !!