Latest News | 40 Firms Commit to Make IT Hardware Worth Rs 4.65 Lakh Cr Under PLI Scheme
Get latest articles and stories on Latest News at LatestLY. As many as 40 companies, including Dell, HP, and Lenovo, have applied for the IT hardware PLI scheme with a commitment to make personal computers, laptops, tablets, servers and other equipment worth Rs 4.65 lakh crore during the scheme period, an official statement said on Thursday.
New Delhi, Aug 31 (PTI) As many as 40 companies, including Dell, HP, and Lenovo, have applied for the IT hardware PLI scheme with a commitment to make personal computers, laptops, tablets, servers and other equipment worth Rs 4.65 lakh crore during the scheme period, an official statement said on Thursday.
If all companies get selected under the scheme then the government will need to increase the incentive amount to Rs 22,890 crore against the budgetary allocation of Rs 17,000 crore, according to the note.
"Total 40 applications have been submitted till the closure of the window on August 30. The scheme has been oversubscribed. Against The budgetary allocation of Rs 7,000 crore, applicants have projected PLI amount to the tune of 22,890 crore. Further, the production figure projected by these applicants is Rs 4.65 Lakh crore against the target of 3.35 lakh crore," the statement said.
The applicants include 13 in the hybrid category comprising seven global and six domestic firms and 27 in the domestic category.
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"Large IT hardware companies such as Dell and HP are participating directly under the scheme while other major players such as HPE,Lenovo, Acer, ASUS, Thomson are participating through EMS companies (Flextronics , Rising Star etc) having manufacturing facilities in India," the statement said.
Apple's vendor Foxconn has also applied for the incentives through a subsidiary.
Domestic champion companies that have applied for the scheme include Padget (Dixon), VVDN, Netweb, Syrma, Optiemus, Sahasra, Neolync, Panache, Sojo (Lava) , Kaynes Technologies.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)