Cabinet's Production Linked Incentive Scheme: Indigenous IT Hardware Production on The List
- Posted on May 18, 2023
- Marketplace
- By Arijit Dutta
- 722 Views
Production Linked Incentive Scheme:-
In a remarkable step taken towards rejuvenating the 'Make in India' movement the cabinet led by Prime Minister Narendra Modi has now approved a Production Linked Incentive Scheme.
Details of The Scheme in Making
A budget of 17,000 crores has received a green signal from the Cabinet to be utilized for indigenous manufacturing of IT hardware. Such IT hardware will include tablets, laptops and gaming setups.
While describing the unending benefits of the upcoming scheme, Prime Minister Narendra Modi said, "The Cabinet decision on Production Linked Incentive Scheme – 2.0 for IT Hardware will transform the sector. This scheme will boost employment, strengthen our ecosystem for innovation and lead to greater investments."
The Way Forward
This Production Linked Incentive Scheme has been planned with the goal of an "incremental production worth Rs 3.35 lakh crore over a period of six years". The scheme had also received a positive response from top manufacturers such as the coveted brand, Apple. Other maestro bands like Dell, Dixon, Wistron and Foxconn are also in favor of this scheme as they are expected to be benefitting from the Production Linked Incentive Scheme.
The success of this Production Linked Incentive Scheme would directly mean that India would hold a global position of dominance in the market of IT hardware manufacturing and countries worldwide would draw India-made IT hardware products.
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