The government announced that the production-linked scheme (PLI) for large scale electronics manufacturing, including mobiles, has received investments worth Rs 6,887 crore. This has already exceeded the target for FY24, which was Rs 5,488 crore.
The PLI scheme offers incentives of 3-6% on incremental sales of goods manufactured in India in target segments like mobile phones and electronic components. It has been in effect since April 2020 for a period of five years.
During the scheme tenure, it is expected to generate investments of Rs 7,000 crore, production worth Rs 8,12,550 crore, exports worth Rs 4,87,530 crore, and create 2,00,000 direct jobs. These figures were shared by Minister of State for Electronics and IT, Rajeev Chandrasekhar, in the Rajya Sabha.
As of June this year, the PLI scheme has already generated production worth Rs 3,30,612 crore, exports worth Rs 1,56,051 crore, and 62,173 direct jobs. The government aims to strengthen the electronic manufacturing ecosystem in India and increase its participation in global value chains.
So far, 32 applicants have been approved under the PLI scheme. Additionally, the Ministry of IT has issued a notification mandating compliance with Indian standards for the manufacture, import, sale, and distribution of 64 electronic goods or articles in order to improve their quality.
