Cabinet has approved Production Linked Incentive Scheme 2.0 for IT Hardware
- Press Information Bureau
- May 18, 2023
On May 17, 2023, the Union Cabinet, which was chaired by the Prime Minister, Mr. Narendra Modi, approved the Production Linked Incentive Scheme 2.0 for IT Hardware. The budgetary outlay of the scheme is US$ 2.06 billion (Rs. 17,000 crore).
For many major international companies, India is quickly becoming a reliable supply chain partner. Large companies of IT hardware have expressed a strong interest in setting up manufacturing facilities in India. This is further supported by the nation's strong IT services sector's high demand.
India has become the world’s second-largest manufacturer of mobile phones and the exports of mobile phones crossed a major milestone of US$ 11 billion. Furthermore, due to the great success of the Production Linked Incentive Scheme (PLI) for mobile phones, PLI Scheme 2.0 was approved.
Electronic devices like laptops, tablets, all-in-one PCs, servers, and ultra-small form factor devices are covered under the PLI Scheme 2.0. The tenure of the scheme is six years.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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