The empowered committee for the performance linked incentive scheme for large-scale electronics manufacturing has approved incentives amounting to over ₹410 crore for mobile manufacturing to Foxconn India and Padget Electronics, a subsidiary of Dixon Technologies.
The committee headed by chief executive officer of Niti Aayog Parameswaran Iyer issued incentives of ₹357.17 crore to Foxconn Hon Hai Technology India Mega Development Pvt Ltd for the period beginning August 2021 to March 2022 based on its incremental investments and sales figures. The Indian arm of the Taiwanese electronics manufacturing major was the first global company to be approved under the segment of mobile phone making. Padget Electronics Pvt. Ltd will receive ₹58.29 crore as incentive for mobile manufacturing for the quarter January-March 2022, the committee said in a statement Tuesday.
Padget Electronics had already received ₹53.28 crore under the PLI scheme for the period August–December 2021 based.
The PLI scheme for Large-Scale Electronics Manufacturing, under MeitY is aimed at making India a competitive destination for electronics manufacturing and providing a boost to Atmanirbhar Bharat while creating more global champions in this sector. As of September 2022, the PLI scheme for the category had attracted investment of ₹ 4,784 crore, and led to total production of ₹2.03 trillion, including exports of ₹80,769 crore.
