Corporate NewsNews

Cabinet approves PLI scheme for Manufacturing of IT products

The Union Cabinet on Wednesday approved the PLI scheme for IT hardware products. The target IT hardware segments under the proposed Scheme include Laptops, Tablets, All-in-One Personal Computers (PCs) and Servers. The scheme proposes production linked incentive to boost domestic manufacturing and attract large investments in the value chain of these IT Hardware products.

The total cost of the PLI scheme for IT hardware is approximately Rs 7,350 crore over 4 years. The scheme intends to provide incentives between 4-1 per cent on net incremental sales (over base year i.e. 2019-20) of goods manufactured in India and covered under the target segment, to eligible companies, for a period of four years.

As per the Cabinet statement, the scheme is expected to lead production worth Rs 3.26 lakh crore and exports worth Rs 2.45 lakh crore in four years. It is expected to bring additional investments of Rs 2,700 crore, earn direct and indirect revenue around Rs 15,760 crore and create 1.80 lakh jobs in four years.

Related posts

Ingram Micro India Adds Digitate to Its Cloud Portfolio


L&T Technology Services continues double-digit revenue growth in Q2FY20


MicroWorld joins hands with CERT-In