The Ministry of Electronics and Information Technology (MeitY) on Tuesday said it has approved 16 eligible applicants under the Production-Linked Incentive (PLI) Scheme for large-scale electronics manufacturing that had been notified on April 1.
The scheme extends an incentive of 4-6 per cent on incremental sales (over base year) of goods under target segments that are manufactured in India, to eligible companies, for a period of five years subsequent to the base year (FY2019-20).
“The PLI scheme has been a huge success in terms of the applications received from global as well as domestic mobile phone manufacturing companies and electronic components manufacturers. The industry has reposed its faith in India’s stellar progress as a world-class manufacturing destination,” said Ravi Shankar Prasad, Minister for Electronics & IT, Communications, Law and Justice.
He said the government is optimistic and looking forward to building a strong ecosystem across the value chain and integrating