Strong Investment Momentum under PLI Schemes for Electronics and IT Hardware
As of June 30, 2024, the Production Linked Incentive (PLI) Schemes for Large Scale Electronics Manufacturing and IT Hardware have attracted significant investments. The Ministry of Electronics and Information Technology (MeitY) reported that 32 companies under the PLI Scheme for Electronics Manufacturing have made a cumulative investment of INR 8,282 crore. Of these, INR 3,136 crore came from Greenfield companies, while Brownfield companies invested INR 5,146 crore.
Similarly, 27 companies approved under the PLI 2.0 for IT Hardware have invested INR 464.66 crore, with Greenfield companies contributing INR 78.57 crore and Brownfield companies INR 386.09 crore.
The PLI Schemes, launched under the National Policy on Electronics (NPE) 2019, aim to boost domestic production, with substantial production targets across both sectors. Electronics companies have committed to producing goods worth INR 10,70,000 crore, while IT Hardware companies target INR 3,51,647 crore in production under PLI 2.0.
Additionally, the PLI Scheme for Electronics Manufacturing was extended by one year to mitigate COVID-19 impacts, allowing companies flexibility in meeting production targets until 2025-26.
