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IT Hardware: The companies will have to submit a detailed and graded roadmap of make-in-India plans for products to government.

The companies will have to submit a detailed and graded roadmap of make-in-India plans for products to government.

Manipal Group chairman Ranjan Pai is likely to pick up a stake in FirstCry, as part of a secondary share sale. Pais Rs 250 crore investment could come at a valuation of about $3 billion for the Pune-based ecommerce firm looking to file its draft IPO papers before the end of this year. All this and more in todays Morning Dispatch.

In a meeting with senior ministry of electronics and information technology (MeitY) officials on Tuesday, executives of companies like Apple, Dell, HP, Acer and others said they would need this time to set up manufacturing facilities in India.

India aims to become self-reliant in the IT hardware space by reducing imports from China, saving foreign exchange, creating jobs, and strengthening the hardware supply chain

In a surprise move, the government last week reintroduced licensing and ended free imports of IT hardware. Many reasons have been cited for this step. Mint explains the possible rationale and the potential impact of the measure going forward:

The government has fixed August 30 as the last date for manufacturing IT hardware under Rs 17,000-crore PLI scheme.

Three years since the launch of the incentive scheme, smartphone production has been the biggest success. On the other hand, a lot more needs to be done to bolster PLI in electronics and IT hardware by scaling up components manufacturing and addressing legacy infrastructure issues.

The centre notified the second phase of the production-linked incentive scheme for IT hardware on May 14 with a budgetary outlay of Rs 17,000 crore, more than doubling the incentives in the initial version of the plan.

In May, the Centre had notified the second phase of the production-linked incentive (PLI) scheme for IT hardware with a budgetary outlay of Rs 17,000 crore, more than doubling the incentives in the initial version of the plan, aimed at attracting global companies like Dell, HP, Apple, and Samsung to manufacture in India.