Foreign companies seeking incentives under the scheme may have to invest Rs 500 crore over four years, while the threshold for domestic companies is likely to be around Rs 20 crore for five years, said the source who did not want to be named. mentioned.
“Meity (Ministry of Electronics and Information Technology) will soon seek the approval of the detailed guidelines by the Cabinet and hopes to roll out the scheme from next financial year. The stimulus expenditure is likely to be around Rs 7,500 crore,” said the source.
The government has announced a cumulative production-linked stimulus of Rs 2 lakh crore for 10 sectors to encourage domestic production, after seeing the traction of global giants like Apple’s contract manufacturers, Samsung etc. for the settlement in the mobile segment. devices.
According to the mobile device industry association, ICEA, India has the potential to scale its cumulative production capacity for laptops and tablets to more than Rs 7 lakh crore by 2025 through policy interventions.
Scaling up the production of laptops and tablet PCs could bring India’s share of the global market to 26 percent from 1 percent now.
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Moreover, it will generate 5 lakh new jobs and lead to a cumulative inflow of foreign exchange amounting to Rs 5.5 lakh crore and investments of over Rs 7,300 crore by 2025.
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This post Government may keep Rs 7,500 cr spending on IT hardware production under PLI scheme was original published at “https://economictimes.indiatimes.com/tech/tech-and-gadgets/govt-may-keep-rs-7500-cr-outlay-for-it-hardware-manufacturing-under-pli-scheme/articleshow/80333429.cms”