Twenty-seven tech companies, including tech giants Dell, HP and Lenovo, were granted permission to construct technology hardware in India. A production-linked incentive plan is in place to promote domestic production, according to Ashwini Vaishnaw, Minister of Railways, Communications and Electronics and IT, who mentioned that 23 of the 27 approved applicants are set to start production immediately.
27 companies, including Dell, HP, and Lenovo, have been granted authorization to produce IT hardware in India as part of the nation's attempt to promote domestic production and draw in substantial investments in the value chain. PLI Scheme 2.0, which was established by the government in May, will afford them incentives for items manufactured in India. The ministry of Electronics and IT announced that products from well-known brands such as Dell, HP, Acer, and Asus will be manufactured in India. A budget of 170 billion Indian Rupees (around $2 billion) has been allocated for the scheme, which covers laptops, tablets, all-in-one PCs, micro PCs, and servers. Minister of Railways, Communications and Electronics and IT Ashwini Vaishnaw stated that 23 of the 27 applicants are ready to begin operations right away. Collectively, the firms are expected to invest $360 million and generate around 200,000 jobs, including 50,000 direct jobs and 150,000 indirect opportunities. It is estimated that the Indian IT hardware market will climb from $15.52 billion in 2022 to $22.77 billion in 2027. The ministry recognizes that the IT hardware industry lags behind other nations and requires a remedy to make up for the manufacturing disadvantages it has in comparison to other top production economies.
The ministry proclaimed that the PLI Scheme 2.0 for IT Hardware is anticipated to expand and improve the manufacturing environment by inspiring the domestication of components and sub-assemblies and permitting a longer period to assemble the supply chain in the nation. For instance, companies like Apple's Foxconn and Samsung of South Korea have been progressively expanding their manufacturing bases beyond China due to incentives for producing electronics and India being the world's second-biggest smartphone market.
コメント