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The union government Saturday approved IT hardware manufacturing proposals from 27 companies — both global and domestic — that will bring in cumulative investments of ₹3,000 crore over the next six years.

The Indian government has approved 27 firms, including Dell, Foxconn, HP, and Lenovo, under a new IT hardware scheme. Around 30 out of 40 applicants are expected to qualify for the Rs 17,000-crore production linked incentive (PLI) scheme.

The ministry of electronics and information technology may send a confirmation to these companies and make the announcement over the next few days, according to sources aware of the developments.

PLI Scheme: In August, the government had said that it had received proposals from 40 companies with expected incremental investments of Rs 5,010 crore. This was towards additional production worth Rs 4.65 lakh crore over six years, including exports of Rs 28,288 crore during the period.

HP, Dell, Lenovo, Padget (Dixon), VVDN, Netweb and Optiemus have not officially commented on the approvals, , centre, Approve, IT Hardware Proposals, hp, Lenova, Flexotronics

Manipal Group boss Ranjan Pai has pumped Rs 1,400 crore into Bjyus subsidiary Aakash Institute, enabling the embattled edtech major to clear its debt to Davidson Kempner. This and more in todays ETtech Top 5.

The ministers reaction came as a response to a tweet by former Infosys director TV Mohandas Pais that it was a "sad day for Karnataka. We have driven away one of our best companiesc from Mysore because of lethargy and lack of response, why are we driving away our industry? How will jobs come."

The company provides conceptual design, process engineering, integrated manufacturing and life cycle support to leading companies in the automotive, industrial, aerospace, defense, outer-space, nuclear, medical, railways, IT, and other sectors.

An analysis by Moneycontrol suggests that if these shareholders choose to exit after the lock-in period, these stocks could experience an estimated fund outflow of around Rs 2,10,782.40 crore, based on the closing prices of these stocks as of October 9

Morgan Stanley has assigned a target Price of Rs 2,440 a share for Kaynes Tech and Rs 671 for Syrma SGS