India’s IT hardware sector has reached a significant milestone according to Union Minister for Communications, Electronics and IT, Ashwini Vaishnaw. He announced that 27 companies have been approved under the Production Linked Incentive Scheme (PLI) in a short timeframe.
At a press conference, Vaishnaw highlighted that nearly 95 per cent of these companies, totaling 23, are ready to begin immediate manufacturing. The remaining four companies are expected to start manufacturing within the next 90 days. These applications are projected to result in an additional investment of Rs 3,000 crores, with an overall production value of Rs 3.5 lakh crores.
The direct employment generated is estimated at around 50,000, while indirect employment opportunities will reach approximately 1.5 lakh, contributing to a total employment boost of 2 lakh. The approved companies include major industry players such as Dell, Foxconn, HP, Flextronics, Padget, Lenovo, New Link, Zenus, Mega, and Optimus, signaling a significant shift in the value chain towards India.
Introduced by Prime Minister Narendra Modi, the PLI Scheme for IT Hardware aims to enhance the IT hardware manufacturing ecosystem in the country. The scheme is anticipated to stimulate local manufacturing, encouraging the localization of components and sub-assemblies and fostering the development of a robust supply chain within India.
Vaishnaw previously reported an outstanding response to the PLI scheme for laptops and PCs, with 32 applications received, including major players like HP India, Dell, Acer, Lenovo, and Thomson. This initiative is part of India’s Atmanirbhar and ‘Make-in-India’ initiatives, aiming to enhance global competitiveness and attract investments. It also seeks to boost exports, integrate India into the global supply chain, and reduce dependency on imports across various sectors.
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