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MeitY invites applications for incentives under PLI 2.0 for IT Hardware

The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, had given approval to introduce the Production-Linked Incentive (PLI) Scheme 2.0 for IT Hardware for Enhancing India’s Manufacturing Capabilities and Enhancing Exports – Atmanirbhar Bharat on May 17, 2023.

The scheme was notified on May 29, 2023. The window of applications under PLI Scheme 2.0 for IT Hardware will open from June 01, 2023.

The PLI Scheme 2.0 for IT Hardware is expected to result in broadening and deepening of the manufacturing ecosystem by encouraging the localisation of components and sub-assemblies and allowing for a longer duration to develop the supply chain within the country. Additionally, the scheme provides increased flexibility and options for applicants, and is tied to incremental sales and investment thresholds to further incentivise growth. Furthermore, semiconductor design, IC manufacturing, and packaging are also included as incentivised components of the PLI Scheme 2.0 for IT Hardware.

The PLI Scheme 2.0 for IT Hardware approved with a budgetary outlay of ₹ 17,000 crore.

  • The scheme is expected to lead to total production of about ₹ 3.35 lakh crore, bring an additional investment of ₹ 2,430 crore in electronics manufacturing and will lead to generation of 75,000 additional direct jobs.
  • The Scheme will promote large scale manufacturing in Laptops, Tablets, All-in-One PCs, Servers and Ultra Small Form Factor (USFF) devices and contribute significantly to achieve electronics manufacturing turnover of approximately USD 300 billion by 2025-26.
  • Approved applicants of existing PLI will be allowed to apply under PLI 2.0.

The scheme has three category of applicants, namely global companies, hybrid (global/domestic) companies and domestic companies.

For report, https://www.communicationstoday.co.in/meity-invites-applications-for-incentives-under-pli-2-0-for-it-hardware-report/

CT Bureau

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