Over 30 companies may qualify for IT hardware PLI scheme: Report
₹17,000 crore production linked incentive (PLI) scheme for IT hardware manufacturing, said a report by news agency PTI citing a government official. “Around 30-32 company may qualify for the (IT hardware PLI scheme.
Some are looking ineligible for the scheme due to financial issues and organisation structure issues," said the official as quoted by PTI. Around 40 IT hardware companies, including Dell, HP, and Lenovo, had applied for the PLI scheme to manufacture personal computers, laptops, tablets, servers and other equipment worth ₹4.65 lakh crore. The selected companies will get incentives well within the fund allocated for the scheme, the official told PTI. IT hardware companies such as Dell and HP are participating directly in the programme, while other players such as HPE, Lenovo, Acer, ASUS, and Thomson are taking part through Electronic Manufacturing Service (EMS) companies with manufacturing facilities in India, such as Flextronics and Rising Star.
Foxconn, the Apple's supplier had also applied for the PLI scheme through its subsidiary. Among the domestic companies, Padget (Dixon), VVDN, Netweb, Syrma, Optiemus, Sahasra, Neolync, Panache, Sojo (Lava), and Kaynes Technologies had applied for the PLI scheme.
Exciting news! Mint is now on WhatsApp Channels :rocket: Subscribe today by clicking the link and stay updated with the latest financial insights! Click here! “The list of eligible companies is likely to be released by September end or in early October," said the report citing the official. In the first year of the PLI scheme almost every company will be allowed to continue their imports as usual and reduction in the import quota will start after September 2024, the official told the PTI. All the companies have
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