Union Cabinet Approves Rs. 17,000 Crore PLI 2.0 Scheme for IT Hardware

Union Cabinet Approves Rs. 17,000 Crore PLI 2.0 Scheme for IT Hardware
Union Cabinet Approves Rs. 17,000 Crore PLI 2.0 Scheme for IT Hardware

In a significant move to bolster domestic manufacturing and boost the IT hardware sector, the Union Cabinet has approved the Production-Linked Incentive (PLI) 2.0 scheme with an allocation of Rs. 17,000 crore. The scheme is expected to attract investments and enhance the country’s capabilities in manufacturing IT hardware products.

The PLI 2.0 scheme focuses on incentivizing the production of laptops, tablets, all-in-one PCs, and servers. It aims to make India a global manufacturing hub for IT hardware and promote the “Make in India” initiative. By providing financial incentives to eligible manufacturers, the scheme aims to create a conducive environment for domestic production, reduce imports, and boost exports.

Under the PLI 2.0 scheme, eligible companies will receive incentives based on the incremental sales of IT hardware products manufactured in India. The incentives will be provided over a period of four years, encouraging companies to ramp up their production capacities and invest in research and development. This will not only spur job creation but also enhance the competitiveness of the Indian IT hardware industry.

The approval of the PLI 2.0 scheme for IT hardware is aligned with the government’s vision of achieving self-reliance in the manufacturing sector and reducing dependence on imports. It is expected to attract major global IT hardware players to set up manufacturing units in India, creating a robust ecosystem and generating employment opportunities.

The PLI 2.0 scheme builds upon the success of the PLI scheme launched for the mobile phone and electronic component manufacturing sectors. The earlier scheme has witnessed significant investments and has played a crucial role in transforming India into a manufacturing destination for mobile phones and components.

With the approval of the PLI 2.0 scheme for IT hardware, the government aims to replicate the success of the previous scheme and drive growth in the IT hardware sector. This will not only contribute to the country’s economic development but also enhance India’s standing as a global player in the IT hardware manufacturing industry.

The implementation of the PLI 2.0 scheme for IT hardware will require active collaboration between the government, industry stakeholders, and other relevant agencies. It is expected to create a favorable ecosystem for innovation, research, and development in the IT hardware sector, paving the way for a self-reliant and technologically advanced India.

The PLI 2.0 scheme for IT hardware, with its substantial financial allocation and focus on domestic manufacturing, marks a significant step towards realizing the vision of an Atmanirbhar Bharat (self-reliant India) and positioning the country as a global manufacturing hub for IT hardware products.