According to Ministry of Electronics and Information Technology’s (MeitY), over 22 domestic and international firms have applied for the MeitY’s production- linked incentive (PLI) scheme that seeks to boost domestic electronics manufacturing.
Further, MeitY added that over the next five years, the scheme is expected to lead to production of mobiles and components worth Rs 11.5 trillion and, of these, over Rs 7 trillion worth of products will be exported.
Over 40 applications were received for the Electronics Manufacturing Clusters (EMC) scheme aimed at boosting manufacturing of electronics components. These include Austria-based AT&S and China-based Avary, USbased Visicon, Taiwanese Walsin. Among Indian firms who have applied are Ascent Circuits, Sahasra and SFO Technologies.
According to India Cellular and Electronics Association (ICEA) estimates, mobile phone companies will increase devices production in the country to around Rs 27.5 trillion on higher side under the PLI compared to government’s announcement of Rs 11 trillion.