High-Level Panel Approves 32 Beneficiaries Under PLI For Large Scale Electronics Manufacturing

High-Level Panel Approves 32 Beneficiaries Under PLI For Large Scale Electronics Manufacturing 

An empowered committee headed by Niti Aayog CEO on Friday approved 32 beneficiaries under the production-linked incentive scheme for large-scale electronics manufacturing, including 10 for mobile.

The Aayog in a statement said the Parameswaran Iyer-headed committee approved the first incentive for mobile manufacturing under the PLI scheme for large-scale electronics manufacturing.

This is the first-ever disbursement under any PLI scheme, it added.

"Thirty-two beneficiaries had been approved under the PLI scheme for Large-Scale Electronics Manufacturing, of which 10 (5 global and 5 domestic companies) were approved for mobile manufacturing," the statement said.

Padget Electronics Pvt Ltd, a domestic company, is the first beneficiary approved by the empowered committee to receive incentive under mobile manufacturing based on its incremental investment and sales figures for FY 2021–22, it added.

Padget Electronics is a 100 per cent subsidiary of Dixon Technologies and has manufacturing facilities in Noida, Uttar Pradesh.

According to the statement, for the quarter ending June 2022, the applicants under this PLI scheme had undertaken sales of Rs 1,67,770 crore, including export of Rs 65,240 crore.

This PLI scheme has also generated employment for 28,636 people and the applications for incentives by the other beneficiaries will also be considered for approval soon, it added.

The PLI scheme on large-scale electronic manufacturing, which includes manufacturing of mobile phones and specified electronic components, was approved in March 2020, with a total outlay of Rs 38,645 crores.

The Aayog claimed that the scheme is expected to bring in additional production to the tune of Rs 10,69,432 crore and generate employment for 7,00,000 people.

The government has already rolled out the scheme with an outlay of about Rs 2 lakh crore for 14 sectors, including automobiles and auto components, white goods, pharma, textiles, advance chemistry cell and speciality steel.

The objective of the scheme is to make domestic manufacturing globally competitive and to create global champions in manufacturing.