India Approves Rs. 7,350-Crore PLI Plan to Boost IT Product Exports


2021-02-24 12:02:52

India approved a Rs. 7,350-crore plan to boost local manufacturing and exports of IT products such as laptops, tablets, personal computers, and servers, the technology minister said.

The production-linked incentive (PLI) plan will help India export IT goods worth Rs. 2,45,000 crore, minister Ravi Shankar Prasad told a news conference.

It provides manufacturers cash-backs of between 1 percent and 4 percent of additional sales of locally made goods over four years, with 2019-2020 as the base year.

“The focus of the scheme is to get global champions to India and to make national champions out of local manufacturers,” Prasad said, adding that the plan could create roughly 180,000 jobs.

The PLI plan is also likely to help US tech giant Apple assemble some of its iPad tablets in India, Reuters previously reported.

Prime Minister Narendra Modi’s policy push in the electronics sector has prompted Apple suppliers Foxconn and Wistron to expand in India, and driven Pegatron to set up base there.

The three Taiwan companies have committed to invest roughly $900 million (roughly Rs. 6,510 crores) to make iPhone models in India as part of a $6.7 billion (roughly Rs. 48,470 crores) PLI plan launched by the government last year.

Modi’s strategy, coupled with India’s huge market, have also helped turned the country into the world’s second-biggest mobile maker after China.

New Delhi now wants to replicate the success of smartphone manufacturing with other electronics in a bid to cut imports.

The federal cabinet last week approved a $1.68 billion (roughly Rs. 12,150 crores) plan to promote local manufacturing and export of telecoms and networking gear.

© Thomson Reuters 2021


Is Samsung Galaxy S21+ the perfect flagship for most Indians? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.



Source link

31 Comments

  1. MarcosEtess March 4, 2021
  2. JasonLup March 8, 2021
  3. Jasonker March 11, 2021
  4. Jasonker March 12, 2021
  5. Michaelzes March 16, 2021
  6. Michaelzes March 17, 2021
  7. KevinLot March 18, 2021
  8. KevinLot March 19, 2021
  9. Terrymex March 22, 2021
  10. Terrymex March 23, 2021
  11. Peterhed March 25, 2021
  12. Peterhed March 26, 2021
  13. Peterhed March 26, 2021
  14. Peterhed March 27, 2021
  15. Peterhed March 28, 2021
  16. Peterhed March 29, 2021
  17. Rafaeljap March 29, 2021
  18. BillyBlant April 2, 2021
  19. Michaeltrevy April 4, 2021
  20. Michaeltrevy April 5, 2021
  21. Michaeltrevy April 6, 2021
  22. Robertnom April 7, 2021
  23. Robertnom April 8, 2021
  24. Robertnom April 9, 2021
  25. Michaelton April 10, 2021
  26. Michaelton April 11, 2021
  27. ClaudScoox April 13, 2021
  28. ClaudScoox April 14, 2021
  29. ClaudScoox April 15, 2021
  30. ClaudScoox April 16, 2021
  31. Pierredob April 17, 2021

Leave a Reply