[Hardware] 27 firms granted approval under new IT hardware PLI scheme: Vaishnaw

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The government on Saturday said 27 companies, including Dell, HP, Flextronics, and Foxconn, have been granted approval under the production-linked incentive (PLI) scheme for IT hardware. The scheme, which covers laptops, tablets, PCs, servers and ultra-small form factor devices, is expected to fuel incremental investments of about Rs 3,000 crore. "India is poised for a revolutionary leap in IT hardware manufacturing,"  industry body MAIT said on this annoucement. "MAIT envisions this as a game-changer for IT hardware manufacturing. With unwavering confidence, we anticipate India's ascent to a leadership position in the manufacturing and export of products such as laptops, tablets, servers...mirroring the transformative success witnessed in the Indian mobile phone industry," Suhail Zaidi Director General of MAIT said.Sanjay Lodha, Chairman and Managing Director of Netweb Technologies, said the company is "honoured to be recognised in the PLI scheme". "Excelling in the initial phase of PLI 1.0, by surpassing targets twofold, we are now gearing up for PLI 2.0 with increased incentives, anticipating even greater success. This strategic initiative serves as a catalyst, propelling Netweb towards heightened innovation and a more extensive product portfolio," Lodha said. The nod to the applicants comes at a time when India is wooing IT hardware players with policy sweeteners and incentive schemes, making a determined push to position itself as a global powerhouse for hi-tech manufacturing."I am happy to announce that 27 companies have been approved for the PLI IT hardware scheme. About 95 per cent of these...23 companies are ready to start their manufacturing from day-zero," Minister for Electronics and IT Ashwini Vaishnaw said at a briefing. Four companies will start their production in the next 90 days. "These 27 applications will lead to investments of about Rs 3,000 crore...The most important thing is that the value chain is shifting to India," the minister said. The approvals will position India as a big force in manufacturing of IT hardware, encompassing PCs, servers, laptops, and tablets, Vaishnaw said.

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