PLI Scheme Fuels Rs 5.14 Lakh Crore In Electronics Manufacturing By Mid-2024
Incremental investment of Rs 8,390 crores had been made under the PLI scheme, until June 30.
Production of mobile phones, including electronic components and semiconductor packaging, under the Production Linked Incentive Scheme for large-scale electronics manufacturing reached Rs 5.14 lakh crore till June 2024, Parliament was informed on Friday.
Minister of State for Electronics and IT Jitin Prasada, in a written reply to the Rajya Sabha, said that to boost domestic manufacturing and attract investment in mobile phones value chain, including electronic components and semiconductor packaging, Production Linked Incentive Scheme for large-scale electronics manufacturing was notified on April 1, 2020.
"Till June 30, 2024, incremental investment of Rs 8,390 crores had been made under the PLI scheme. This has led to production of Rs 5,14,960 crores till Jun. 30, 2024," Prasada said.
Apple vendors Foxconn, Wistron, Samsung, Pegatron etc qualified for incentives under the scheme.
Prasad said the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) for electronic components, e-waste recycling, mechanics, micro and nano-electronic components, solar photovoltaic (SPV) polysilicon etc was notified on April 1, 2020.
"As of Jun. 30, 2024, incremental investment of Rs 8,803.14 crores had been made under the SPECS scheme. This has led to production of Rs 18,083.55 crores till 30th June 2024," Prasada said.
