The government has approved total incentives worth Rs 4.15 billion for two companies, Foxconn India and Padget Electronics, for mobile manufacturing under the production-linked incentive (PLI) scheme for the large-scale electronics manufacturing (LSEM) sector. The incentives have been approved by the Empowered Committee headed by Parameswaran Iyer, chief executive officer, NITI Aayog.
Foxconn India is the first global company that has been approved under the target segment ‘mobile phones’ to receive incentive under mobile manufacturing for the period August 2021 – March 2022 based on its incremental investments and sales figures. The incentive amount approved is Rs 3.57 billion.
Additionally, Padget Electronics, a 100 per cent subsidiary of Dixon Technologies, has been approved to receive incentives under mobile manufacturing for the quarter January 2022 – March 2022 based on its incremental investments and sales figures under the target segment ‘mobile phones’. The incentive amount approved is Rs 582.9 million. Earlier, Padget Electronics had received an amount of Rs 532.8 million under the PLI scheme for LSEM for the period August 2021 – December 2021 based on its incremental investments and sales figures.
The proposals for disbursement of incentives, presented by the Ministry of Electronics and Information Technology (MeitY), were considered by the Empowered Committee, comprising Parameswaran Iyer, chief executive officer, NITI Aayog; Anurag Jain, secretary, Department for Promotion of Industry and Internal Trade; Alkesh Kumar Sharma, secretary, MeitY; and other members of the Empowered Committee.
