PLI booster: 32 firms invest Rs 8,282 crore for large-scale electronics manufacturing
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In a fillip to local manufacturing, 32 companies have invested Rs 8,282 crore under the production-linked incentive (PLI) scheme for large-scale electronics manufacturing till June 30, the Parliament was informed on Wednesday.
The IT Ministry said that 27 companies have cumulatively invested Rs 464.66 crore under the PLI scheme for IT hardware and PLI scheme 2.0 for IT hardware.
In a written reply to a question in Lok Sabha, Minister of State for Electronics and IT, Jitin Prasada, said as on March 31, the cumulative investment made by the companies under the PLI scheme for large-scale electronics manufacturing was Rs 8,069 crore against the committed investment of Rs 9,653 crore up to March 2024.
"Whereas the cumulative investment made by the companies under PLI Scheme for IT Hardware 2.0 is Rs 249.46 crore against the committed investment of Rs 56 crore up to March 2024," he said.
Under the PLI scheme for large-scale electronics manufacturing, a total of 32 companies were approved with a committed investment of Rs 11,324 crore and a projected production target of Rs 10,70,000 crore. Under the PLI scheme for IT hardware, a total of 14 companies were approved with a committed investment of Rs 2,517 crore and a committed production target of Rs 1,60,751 crore.
According to the IT Ministry data, under the PLI scheme 2.0 for IT hardware, a total of 27 companies were approved with a committed investment of Rs 2,955 crore and a committed production target of Rs 3,51,647 crore. Thirteen out of 14 applicants from PLI Scheme for IT Hardware have been migrated to PLI Scheme 2.0 for IT Hardware, the ministry said.
The government has not changed the production or investment criteria under the PLI scheme for large-scale electronics manufacturing, PLI Scheme for IT hardware and PLI 2.0 for IT hardware after the selection of the companies under the scheme. However, to provide relief to companies approved under the PLI scheme affected by the Covid-19 pandemic, the tenure of the PLI Scheme for Large Scale Electronics Manufacturing has been extended by one year -- from 2024-25 to 2025-26. Out of 32 companies approved under the PLI scheme for large-scale electronics manufacturing, seven are Greenfield companies and 25 are Brownfield companies.
Out of the cumulative investment of Rs 8,282 crore, the cumulative investment made by Greenfield companies is Rs 3,136 crore and by Brownfield companies is Rs 5,146 crore.
Out of the cumulative investment of Rs 464.66 crore made in the PLI scheme for IT hardware and PLI scheme 2.0 for IT hardware, the investment made by Brownfield companies is Rs 386.09 crore and Greenfield companies is 78.57 crore.
