PLI Scheme: Mobile Manufacturers Invested Rs 1,300 Crore In December 2020 Quarter

- Advertisement -

The scheme approved 16 applications with an incentive outlay of Rs 36,440 crore in its first round 

Under the production linked incentive (PLI) scheme for large scale electronics manufacturing, mobile manufacturers produced goods worth Rs 35,000 crore and invested Rs 1,300 crore in the December 2020 quarter, notified the Ministry of Commerce and Industry in an official statement.

- Advertisement -

The PLI scheme approved 16 applications with an incentive outlay of Rs 36,440 crore in its first round. Of these, 5 companies fall under the Global Champions category, 5 companies under the Domestic Champions category, and 6 companies under the Electronic Components category. The scheme will provide companies with an incentive of 4 to 6 per cent on incremental sales for a period of five years subsequent to the base year.

Approved Proposals

Companies whose proposals have been approved include Samsung and Rising Star. Apple’s suppliers Foxconn, Wistron and Pegatron have also been approved.

“Apple (37 per cent) and Samsung (22 per cent) together account for nearly 60 per cent of global sales revenue of mobile phones and this scheme is expected to increase their manufacturing base manifold in the country,” read the statement.

Lava, Bhagwati (Micromax), Padget Electronics, UTL Neolyncs and Optiemus Electronics were among the Indian companies approved under the scheme. These companies, added the statement, are expected to expand their manufacturing operations in a significant manner and grow into national champion companies in mobile phone production.

The statement further explained, “Over the next five years, the scheme is expected to lead to a total production of about INR 10.5 lakh crore. More than 60 per cent of production is expected to be exported. The scheme is also expected to bring in an additional investment of INR 11,000 crore. Value addition is expected to go up from 20-25% presently to 35-40% by 2025.”

The statement added that additional employment of 22,000 jobs was generated during this period and the scheme envisages to generate approximately 2 lakh direct employment opportunities in the next 5 years along with the creation of additional indirect employment of nearly 3 times the direct employment.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Electronics Major Molex Expands In Hanoi

0
The fully integrated connector manufacturing facility in Vietnam will be laced with advanced tech and capabilities, said the company Global electronics and connectivity major Molex...

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

Dell Joins Fujitsu For Faster Open RAN Global Adoption

0
Multi-band RUs, virtualized RAN and Open RAN Accelerator Cards comprise the under-development solution architecture Fujitsu recently announced that it is working with Dell Technologies to...

Exclusive

Electronics Major Molex Expands In Hanoi

0
The fully integrated connector manufacturing facility in Vietnam will be laced with advanced tech and capabilities, said the company Global electronics and connectivity major Molex...

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

Dell Joins Fujitsu For Faster Open RAN Global Adoption

0
Multi-band RUs, virtualized RAN and Open RAN Accelerator Cards comprise the under-development solution architecture Fujitsu recently announced that it is working with Dell Technologies to...

Important Sectors

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

PLI Scheme Can Help States Become Destinations For Electronics Manufacturing: MoS

0
The manufacturing plant has been set up under the Production Linked Incentive (PLI) scheme At the recent opening ceremony of Pegatron mobile manufacturing facility, the...

Redington’s Renewable Portfolio Enhanced With New Solar Program

0
To accelerate the solar power adoption by homes and businesses, the company has launched Solar Rooftop Partner Program The leading tech company Redington Ltd recently...

The SIDM Champion Award 2022 Goes To: CoreEL!

0
On Sep 27th 2022, the India-based tech-company CoreEL received the Society of Indian Defence Manufacturers (SIDM) Champion Awards 2022. Country's Raksha Mantri Shri Rajnath...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Manufacturing

Electronics Major Molex Expands In Hanoi

0
The fully integrated connector manufacturing facility in Vietnam will be laced with advanced tech and capabilities, said the company Global electronics and connectivity major Molex...

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

PLI Scheme Can Help States Become Destinations For Electronics Manufacturing: MoS

0
The manufacturing plant has been set up under the Production Linked Incentive (PLI) scheme At the recent opening ceremony of Pegatron mobile manufacturing facility, the...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Wind Power Brings Continuum And GE Renewable Energy Together

0
Commercial and industrial establishments will receive the wind power produced in the respective states As per a recent announcement, GE Renewable Energy is set to...