The PLI program is said to have created nearly 29,000 jobs.
Introduced in March 2020, the production-linked incentives (PLI) scheme for large-scale electronics manufacturing, has seen many investors put their step forward. This scheme has enabled a process that grants visas to foreign nationals working for Indian businesses as part of the strategy to increase investments.
Emerging as a single investor, Wistron InfoComm, the Indian unit of one of the top iPhone contract makers in the world, has invested Rs 1,250 crore. Companies like Samsung and Foxconn follow with investments of Rs 900 crore and Rs 650 crore respectively.
Promoting manufacturing and employment capabilities this scheme has a monitoring group that focuses on finding faster solutions for any problems being faced.
As per data from the Ministry of Electronics and IT (MeitY), investments total Rs 4,200 crore under this scheme, apart from USD 1.67 trillion in manufactured electronic goods and nearly 29,000 jobs. The production is aimed to be worth USD 10 trillion along with a 180,000 jobs.
In response to the pandemic-related interruptions, the scheme was extended by the Center until FY26. Companies can choose any five consecutive years between FY21 and FY26 to meet the benchmark targets for incremental sales, considering FY20 as the base year.
