HomeIndian EconomyPLI scheme: Proposals worth ₹4k cr under IT hardware PLI likely to...

PLI scheme: Proposals worth ₹4k cr under IT hardware PLI likely to be cleared

msid 103643245,imgsize 2402353

India may clear investment proposals worth ₹4,000 crore under the Centre’s revised IT hardware Production Linked Incentive (PLI) scheme, a senior government official told ET.

Last month 40 proposals worth ₹5,000 crore were received by the ministry of electronics and IT under the IT Hardware PLI 2.0 scheme. All are unlikely to get a green light since the Government has a fixed budget for incentives.

“Earlier, we kept an investment target of ₹2,430 crore in the scheme. But there was an overwhelming response, forty proposals were received indicating a total investment of ₹5,000 crore. Amount needed to fund all the proposals will be ₹23,000 crore but the allocated budget is currently ₹17,000 crore,” joint secretary, ministry of electronics and IT, Amitesh Kumar Sinha told ET.

“So, probably we’ll not select everybody. And in case we’re not selecting, investments will come slightly lower than ₹5,000 crore and investments of about ₹4,000 crore may occur,” he explained.

The six-year PLI scheme for IT hardware-laptops, tablets, all-in-one personal computers, servers, and ultra small form factor devices-aims to attract top hardware companies. PLI Scheme 2.0 for IT hardware was approved in May this year. PLI 1.0 was issued in 2021 with an outlay of ₹7,350 crore.

On semiconductor manufacturing unit proposals, Sinha who is also the CEO of the Indian Semiconductor Mission (ISM) said he is “very hopeful that in one or two years, many companies will come directly, and we’ll see many more joint ventures too in future”.The government had received three fab proposals and two semiconductor display manufacturing unit proposals.In the first round, the government could not approve those proposals because they did not meet the conditions but now applicants are coming up with revised proposals, he said. After Vedanta and Foxconn parted ways, they submitted proposals separately. They’re trying to meet the conditions needed for approval and it will take some time, Sinha said.

Asked why the companies were unable to submit applications that were technologically advanced, Sinha said, “this sector is very difficult, and the companies are very limited whether it is fab or display technology”. They must convince those companies to come to India and commercial considerations must be factored in, he said.

Companies think twice about technology transfer to competitors, he said. “But some kind of win-win situation can be created”, and Indian companies can create value for global companies, and the latter will see value in supporting Indian companies, he said.

Source link
#PLI #scheme #Proposals #worth #hardware #PLI #cleared



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Aatmanirbhar Bharat


Defence Ministry set to clear ₹70,000 crore frigates’ order

New Delhi: The defence ministry is set to clear a mega ₹70,000 crore order for new warships for the Indian Navy. The stealth frigates...

Zen Technologies launches AI-powered robot for global defense market

Zen Technologies, an anti-drone technology and defence training solutions provider, in collaboration with its subsidiary AI Turing Technologies on Monday introduced AI-powered robot Prahasta,...

AMCA 5th Generation Stealth Fighter Updates

AMCA to be integrated with sophisticated indigenous Distributed Aperture System (DAS) that making it a formidable air asset for the Indian Air Force

Source : IgMp Bureau India’s Advanced Medium Combat Aircraft (AMCA) is on the brink of a revolutionary transformation with the integration of a sophisticated Distributed...

AMCA to incorporate the best features of both 5th and 6th Generation fighters: ADA sources

Source : IgMp Bureau India's strides toward indigenous air dominance receive a substantial boost with the green signal for the Advanced Medium Combat Aircraft (AMCA)...

Most Popular

Recent Comments

Archive Months


Putin: Putin says Ukraine upping attacks to interfere with election

President Vladimir Putin said on Wednesday that Ukraine was upping its attacks on Russian territory in order to interfere with upcoming presidential elections.Russia has...

China Taiwan conflict: China drills more about intimidation, propaganda than starting war, says Taiwan

China's military drills last week were more about propaganda and intimidation than starting a war, but Chinese forces did show how they could react...

Ukraine Foreign Minister Dmytro Kuleba discusses peace plan in India meeting

Source : Bloomberg By Sudhi Ranjan Sen Ukraine’s Foreign Minister Dmytro Kuleba said discussions on a peace plan were a focus in a meeting with his...

LCA Tejas undergoing carriage trials of Astra Mk1 with satisfactory results

Source : IgMp BureauLCA Tejas with Astra Mk-1 BVRAAM during ground integration (Image Source : DRDO)A High ranking official has said that the Astra...
error: Content is protected !!