Make In India Surges Forward With 17,000 Crores Allocated For PLI Scheme

It is reported that the Central Government’s Make in India projects have been a huge success. With the success of the Production-Linked Incentive (PLI) schemes for smartphones, the Center is planning to expand these schemes to more sectors. As part of this, the government has earmarked Rs 17,000 crore to provide more concessions (PLI) for the manufacture of other IT products. The Union Cabinet approved the second phase of the PLI project on Wednesday. The scheme aims to promote local manufacturing of laptops, tablets, all-in-one personal computers, servers, home theaters, and small appliances. The government is expecting production of 3.35 lakh crores in six years through this project.IT and Telecom Minister Ashwini Vaishnav said that all leading companies are interested in starting manufacturing in India and Apple, the maker of iPad, is seriously evaluating this project. The budget allocation for IT PLI is Rs 17,000 crore. The duration of the project is six years. After the Cabinet meeting, the Union Minister said that the first phase of applications will be accepted in October.

With the coming of the new scheme, an increase of Rs 3.35 lakh crore is expected in the production of IT equipment within six years. The Minister said that during this period, investment will increase to Rs 2,430 crore and direct employment will be created for 75,000 people. Also, Vaishnav said that investment under various PLI schemes, especially in telecom and mobile phones, is higher as compared to government figures. It is reported that companies such as HP, Dell, Acer, Asus, and others want to start the plant. Apple tops this list. The government also approved a 7,350 crore PLI scheme for IT hardware in February 2021, covering the production of laptops, tablets, all-in-one PCs, and servers. However, many industry leaders have requested the government to increase the scheme allocation for this segment. India has now become the world’s second-largest manufacturer of smartphones. Exports of mobile phones crossed 11 billion dollars in March.