Centre approves Rs 765 cr for electronics manufacturing under PLI scheme: Report

New Delhi, Mar 15 (KNN) Under the production-linked incentive (PLI) scheme, the government has approved another tranche of financial incentives worth Rs 765 crore for electronics manufacturing, according to a report in the Economic Times.

Wistron, Apple’s contract manufacturer in India will receive the majority of the funds approved. It will receive Rs 601.93 crore of the total Rs 765 crore.

The second largest chunk of the incentives will go to Dixon Technologies' unit Padget (Rs 149.63 crore) followed by AT&S (Rs 7.58 crore), Shogini (Rs 3 crore) and Alcon (Rs 2.40 crore).

“Enthused to feel the vigour in the electronics manufacturing space. Nation is seeing a new era of great coordination between industry and policy makers/implementers,” ICEA chairman Pankaj Mohindroo told ET.

On March 3, the IT and Electronics Minister Rajeev Chandrasekhar had said that production-linked incentive (PLI) scheme should be considered as a transition period for India and not as a permanent solution.

The scheme under the Make-in-India programme is expected to attract a capex of approximately Rs 3 lakh crore over the next five years, as per the Economic Survey 2023.

It has the potential to generate employment for over 60 lakh in India and increase the share of the manufacturing sector in total capital formation.  (KNN Bureau)