Oakter aims to contribute 30,000 new jobs under this scheme.
R.I.O.T. Labz Pvt. Ltd., operating under the brand Oakter, an Indian electronics manufacturer specializing in IoT products, is among the companies approved under the government’s PLI 2.0 scheme for domestic IT hardware production. This places Oakter among prominent companies like Dell, HP, Foxconn, and Lenovo. Oakter, categorized as an Original Design Manufacturer (ODM), is developing an indigenous tablet and plans to start its production within the next 90 days.
The PLI 2.0 scheme aims to boost domestic manufacturing and is part of India’s efforts to become a global hub for hi-tech manufacturing. The scheme, with a six-year tenure, involves an investment of around Rs 3,000 crore by 27 firms and anticipates a production value of about Rs 3.5 lakh crore (USD 42 billion) during this period.
The scheme is expected to expand the Indian manufacturing market by USD 6 Billion annually over the next six years, shifting manufacturing focus from China to India and boosting the export of domestically produced IT hardware. It is estimated to create around 2 lakh direct jobs, with Oakter aiming to contribute 30,000 new jobs under this scheme.
Oakter, founded in 2015 by IIT Delhi alumni Shishir Gupta, Varun Gupta, and Nithin David, has achieved significant milestones in ODM manufacturing of smart Internet-connected IoT and audio devices. The company’s commitment to innovation and quality has established it as a leading brand in the industry.
Nithin K. David, Co-founder of Oakter, expressed excitement about being part of the PLI 2.0 Scheme, highlighting Oakter’s capabilities in designing, developing, and large-scale manufacturing of high-quality internet-connected IoT products. The company, with its commitment to innovation, quality, and agility, has gained trust globally as a manufacturing partner.