We currently import a large part of our laptops and tablets for consumption. The proposed scheme is likely to benefit major global as well as domestic manufacturers of IT hardware products such as Laptops, Tablet, chairman of ICEA said
The Indian government’s new production linked incentive (PLI) scheme for IT hardware will add Rs. 2.45 lakh crore to India’s electronics exports over the next four years, said the India Cellular and Electronics Association (ICEA). The industry body represents electronics companies in India.
“It is a strong beginning by the Government of India (GOI) to cover the IT hardware sector followed by the PLI for the mobile manufacturing sector. We currently import a large part of our laptops and tablets for consumption. The proposed scheme is likely to benefit major global as well as domestic manufacturers of IT hardware products such as Laptops, Tablets," said Pankaj Mohindroo, Chairman of the ICEA.
In an effort to increase India’s manufacturing base, the Indian government extended its PLI scheme to the IT hardware and pharma sectors today. The scheme, worth Rs. 7350 crore, will offer 1-4% cash incentives on net incremental sales (over base year 2019-20) for IT products manufactured in India. This includes laptops, tablets and more. The government had earlier offered similar schemes for the mobile manufacturing and telecom sectors.
Mohindroo said the scheme will help add 1.8 lakh jobs to the sector. According to the ICEA, the domestic domestic market for laptops and tablets is expected to reach $7-10bn by 2025. The global market will swell to $220 billion in the same time.