- This PLI Scheme targets to achieve $25 billion in IT hardware production by 2025-26
- More than 45 companies have submitted applications under PLI Hardware 2.0
The India Cellular and Electronics Association (ICEA) has requested the global and domestic supply chain stakeholders benefit from production-linked incentive (PLI) scheme 2.0 for IT hardware.
The PLI 2.0 scheme has covered several items, like laptops, tablets, all-in-one PCs, servers, and ultra-small form factor devices, aligning with the trajectory of achieving $25 billion in IT hardware production with exports projected between $12-17 billion by 2025-26.
With a substantial budgetary outlay of over $2 billion, the initiative heralds a significant pivot towards bolstering the IT Hardware manufacturing landscape in the country, ICEA said in a statement.
“The PLI 2.0 scheme is a significant lever in this shift, presenting a fertile ground for both global and domestic supply chains to expand or establish their manufacturing footprint in India, a market with inherent demand and immense growth potential,” said Pankaj Mohindroo, Chairman, ICEA.
More than 45 companies have submitted applications under PLI Hardware 2.0 and “many of them are already in the process of setting up their plants,” shared Union IT and Railways Minister Ashwini Vaishnaw.
“Chips today are an integral part of our lives. The semiconductor manufacturing is also going to help the IT hardware PLI 2.0 hugely because this PLI has special incentives for chips which are manufactured in India,” Vaishnaw had said during the inauguration of US-based Micron’s Rs. 22,500 crore semiconductor plant in Sanand, Gujarat.
The PLI 2.0 scheme aims to promote IT hardware manufacturing by providing a 5% average incentive over six years. It encourages the localisation of critical components and sub-assemblies to build a supportive ecosystem.
