The Empowered Committee headed by CEO, NITI Aayog Parameswaran Iyer on September 9 approved first ever disbursement of incentive for mobile manufacturing under the large-scale electronics manufacturing’ sector.
- The Production-Linked Incentive scheme for Large-Scale Electronics Manufacturing is expected to make India a competitive destination for electronics manufacturing. It will also give a boost to Aatmanirbhar Bharat while creating more global champions.
- The PLI scheme for Large-Scale Electronics Manufacturing, mapped to the Union Ministry of Electronics and Information Technology (MEITY), is expected to make India a competitive destination for electronics manufacturing and give a boost to Aatmanirbhar Bharat while creating more global champions.
- Thirty-two beneficiaries had been approved under the PLI scheme for Large-Scale Electronics Manufacturing.
- This PLI scheme has also generated employment of 28,636. Over the last 3 years, exports have grown by 139%. The applications for incentives by the other beneficiaries will also be considered for approval soon.
- The PLI scheme on Large-Scale Electronic Manufacturing, which includes manufacturing of mobile phones and manufacturing of specified electronic components, was approved in March 2020, with a total outlay of Rs 38,645 crores.
- The scheme is expected to bring in additional production to the tune of Rs 10,69,432 crore and generate employment for 7,00,000 people.
About Production-Linked Incentive (PLI) Scheme
- The Union Cabinet had approved the Production-Linked Incentive (PLI) Scheme in 10 key sectors for Enhancing India’s Manufacturing Capabilities and Enhancing Exports – Atmanirbhar Bharat.
- The PLI scheme is being implemented by the concerned ministries/departments and will be within the overall financial limits prescribed.
- The PLI scheme across 10 key specific sectors will make Indian manufacturers globally competitive, attract investment in the areas of core competency and cutting-edge technology; ensure efficiencies; create economies of scale; enhance exports and make India an integral part of the global supply chain.
- The 10 key sectors are; Advance Chemistry Cell (ACC) Battery. Electronic/Technology Products, Automobiles & Auto Components, Pharmaceuticals drugs, Telecom & Networking Products, Textile Products: MMF segment and technical textiles, Food Products, High Efficiency Solar PV Modules, White Goods (ACs & LED) and Speciality Steel.