Latest News | Govt Expects Rs 34,090-cr Investment Under PLI Scheme for Electronics Mfng

New Delhi, Feb 4 (PTI) The government is expecting an investment of Rs 34,090 crore under the PLI scheme for large-scale electronics manufacturing, mainly mobile phones and electronic components, by 2025, Parliament was informed on Friday.

The government has approved proposals of 20 companies under the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), including that of Tata Electronics, till January 27.

Also Read | Vivo T1 5G Price in India & Specifications Leaked Online Ahead of Its Launch.

Around Rs 20,000 crore is expected to come from electronic components and semiconductor companies and Rs 14,090 crore from 32 proposals approved under the production linked incentive (PLI) scheme for large scale electronics manufacturing, Minister of state for electronics and IT Rajeev Chandrasekhar said in a written reply to the Rajya Sabha.

"Under the SPECS Scheme, investment to the tune of Rs 20,000 crore is expected. The total employment potential (both direct and indirect) of the scheme is approximately 6 lakh," the minister said.

Also Read | OnePlus Y1S, OnePlus Y1S Edge Smart TVs To Be Launched in India Soon: Report.

Leading contract manufacturers of Apple -- Foxconn, Pegatron and Wistron, South Korean electronics major Samsung, Indian companies Lava, Jio's Neolync, Optiemus Electronics etc -- have participated in PLI for large scale electronics manufacturing.

"In the aforementioned PLI schemes for large scale electronics manufacturing and IT hardware, the amount of investment expected to be brought in by the approved applicants is Rs 14,090 crore. The total employment (both direct and indirect) expected to be generated during the tenure of the schemes is about 8.57 lakh," Chandrasekhar said.

The Ministry of Electronics and IT has approved 16 proposals under the second round of PLI for large scale electronics manufacturing for electronic components which includes Vishay Components, Deki Electronics, Continental Device India, Salcomp Technologies etc.

Meity has approved 14 proposals under PLI for IT hardware which includes Dell, Foxconn subsidiary Rising Stars, Flextronics, Dixon Technologies, Panache Digilife, Netweb Technologies, Smile Electronics etc.

(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)