Centre rolls out Rs17,000 crore Production Linked Incentive Scheme 2.0 for IT hardware

The Union Cabinet of India, led by Prime Minister Narendra Modi, has given its approval for the implementation of the Production Linked Incentive (PLI) Scheme 2.0 for IT hardware. The scheme, with a budgetary outlay of Rs. 17,000 crore, aims to promote electronics manufacturing in the country. Over the past eight years, the electronics manufacturing sector in India has experienced steady growth, with a compounded annual growth rate of 17%. This year, the industry crossed the milestone of $105 billion (approximately Rs. 9 lakh crore). Notably, India has become the world’s second-largest manufacturer of mobile phones, with mobile phone exports exceeding $11 billion (around Rs. 90 thousand crore). With the global electronics manufacturing ecosystem increasingly shifting to India, the country is emerging as a major player in electronics manufacturing. Building upon the success of the PLI scheme for mobile phones, the PLI Scheme 2.0 for IT hardware has been introduced, a press document shared by the PMO stated. Key Features of the PLI Scheme 2.0 for IT Hardware * The scheme covers the manufacturing of laptops, tablets, all-in-one PCs, servers, and ultra-small form factor devices. * It has a budgetary outlay of Rs. 17,000 crore. * The scheme will be in effect for a period of six years. * It is expected to generate incremental production worth Rs. 3.35 lakh crore. * The scheme aims to attract incremental investment of Rs. 2,430 crore. * It is projected to create around 75,000 direct employment opportunities. Significance of the Scheme India has emerged as a reliable supply chain partner for global technology giants. Leading IT hardware companies have shown keen interest in establishing manufacturing facilities within the country. The strong demand for IT services within India further supports this trend. Many companies aim to serve both the domestic and international markets from their manufacturing units in India, making the country an important export hub. The implementation of the PLI Scheme 2.0 for IT hardware is expected to boost the growth of the electronics manufacturing sector in India and enhance the country’s position as a global player in this industry. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.