In recent years, under the leadership of Premier Modi, India, it is committed to boosting the domestic manufacturing industry and attracting a lot of investment in the manufacturing value chain.According to the government’s approved production incentive plan (PLI) version 2.0, India will provide some incentives to companies made in domestic products.
At present, 27 companies such as Lenovo, Dell, ASUS, and other companies have been allowed to produce IT hardware in India.The Indian Ministry of Electronics and Information Technology confirmed the news in a recent statement.
The budget of the incentive plan was 170 billion Indian rupees (about 2 billion US dollars), which lasts for six years, covering the production of laptops, tablets, all -in -one machines, micro personal computers and servers.That is, manufacturers involved in the plan will share about $ 2 billion in subsidy funds within six years.Chennai Stock
Indian Electronics and Information Technology Minister Ashwini Vaishnaw told industry leaders and media, "Among the 27 approved companies, 23 are ready to start production immediately, and the other 4 companies will start production within 90 days."
The production application of these companies is expected to invest 360 million US dollars, creating about 200,000 employment opportunities, including 50,000 direct employment opportunities and 150,000 indirect employment opportunities.Surat Investment
The ministry said, "IT hardware manufacturing is facing an environment that lacks fair competition ..Bangalore Investment. It is necessary to establish a mechanism to make up for the lack of other major manufacturing economies."Kolkata Investment
The Ministry of Electronics and Information Technology added that "IT Hardware PLI Plan 2.0 is expected to encourage the localization of components and components and allow longer time to develop supply chains in India to expand and deepen the manufacturing ecosystem."
With the help of the incentive plan, the Indian IT hardware market is expected to increase from US $ 15.52 billion in 2022 to US $ 22.77 billion in 2027.Agra Wealth Management
At present, IT hardware manufacturers such as Samsung, South Korea have begun to deploy their manufacturing bases in many places, and India’s potentially huge smartphone market and their electronic product production incentives are attracting these companies to enter India.
New Delhi Investment