 "MeitY invites applications for incentives under PLI 2.0 for IT hardware")
The Ministry of Electronics and Information Technology (MeitY) has invited applications for incentives under the production-linked incentive (PLI) Scheme 2.0 for IT hardware.
This scheme was approved by the Union Cabinet, led by Prime Minister Narendra Modi, on May 17, as part of the government's efforts to enhance India's manufacturing capabilities and promote self-reliance (Atmanirbhar Bharat).
The notification for the scheme was issued on Monday and the application window will open on June 1st.
The PLI Scheme 2.0 for IT Hardware aims to strengthen the manufacturing ecosystem by encouraging the localisation of components and sub-assemblies, promoting the development of the domestic supply chain. It also offers greater flexibility and options for applicants and is linked to incremental sales and investment targets to incentivise growth.
The scheme also includes incentives for semiconductor design, integrated circuit (IC) manufacturing, and packaging.
The PLI Scheme 2.0 for IT Hardware has a budgetary allocation of Rs 17,000 crore. It is expected to lead to a total production value of approximately Rs 3.35 lakh crore and attract an additional investment of Rs 2,430 crore in the electronics manufacturing sector. This, in turn, is projected to generate around 75,000 new direct jobs.
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The scheme focuses on promoting the large-scale manufacturing of laptops, tablets, all-in-one PCs, servers, and ultra-small form factor (USFF) devices, aiming to contribute significantly to achieving an electronics manufacturing turnover of approximately $300 billion by 2025-26.
The companies who have been approved under the existing PLI scheme will also be eligible to apply under the PLI 2.0 for IT Hardware.
The scheme categorises applicants into three groups: global companies, hybrid (global/domestic) companies, and domestic companies.