India’s Big Investment in Electronics: Rs 8282 Crore by 32 Companies
As of June 2024, a total of 32 companies have invested Rs 8282 crore under the Production-linked Incentive (PLI) scheme for large-scale electronics manufacturing in India. This information was shared by the Minister of State for Electronics and Information Technology, Jitin Prasada, in a written reply to the Lok Sabha.
Investment Breakdown
Out of the 32 companies, 7 are greenfield companies, contributing Rs 3136 crore, and 25 are brownfield companies, contributing Rs 5146 crore.
PLI Scheme 2.0 for IT Hardware
Under PLI Scheme 2.0 for IT hardware, 27 companies have invested Rs 464.66 crore, with 6 greenfield companies investing Rs 78.57 crore and 21 brownfield companies investing Rs 386.09 crore.
Scheme Details
The PLI scheme for large-scale electronics manufacturing was notified on April 1, 2020, with a committed investment of Rs 11324 crore and a projected production target of Rs 1070000 crore. The PLI scheme for IT hardware was notified on March 3, 2021, and PLI Scheme 2.0 on May 29, 2023. The government has extended the tenure of the PLI scheme for large-scale electronics manufacturing by one year due to COVID-19, allowing companies to choose any five-year period until 2025-26 to meet their production targets.
Doubts Revealed
Rs 8282 Crore -: Rs 8282 Crore is a large amount of money. In Indian currency, ‘Rs’ stands for Rupees, and ‘Crore’ is a unit equal to ten million. So, Rs 8282 Crore means 82.82 billion Rupees.
Production-linked Incentive (PLI) scheme -: The Production-linked Incentive (PLI) scheme is a government program in India that gives financial incentives to companies for increasing their production. It aims to boost manufacturing in the country.
Greenfield companies -: Greenfield companies are new companies that start from scratch, building their facilities and operations from the ground up.
Brownfield companies -: Brownfield companies are existing companies that expand or upgrade their current facilities and operations.
PLI Scheme 2.0 -: PLI Scheme 2.0 is the second version of the Production-linked Incentive scheme, specifically aimed at boosting the production of IT hardware like computers and tablets.
COVID-19 impacts -: COVID-19 is a disease caused by the coronavirus. It has affected many businesses and industries, causing delays and changes in plans, including the deadlines for the PLI scheme.
Jitin Prasada -: Jitin Prasada is an Indian politician who serves as a minister. He provides information about government programs and initiatives.
