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Updated Apr 12, 2021 | 11:41 IST Out of the 16 participants in the PLI scheme, only one-Samsung- has achieved both production and investment target for the previous financial year. Representational image  New Delhi: The Ministry of Electronics and IT (MeitY) has opposed allowing 15 of the 16 applicants to treat year 2021-22, instead of 20-21, as the first year for production targets under the government’s production-linked incentive (PLI) scheme targeted for smartphone manufacturing companies, the Economic Times mentioned in a report. Out of the 16 participants i...

South Koreas Samsung has met its targets for FY20-21, and the ministry has cited this as the reason for its decision. A senior government official said it cannot set one timeline for one company and another for the rest.

Highlights The government looks to spend Rs 1.97 lakh crore on various PLI schemes over the next 5 years, says FM Sitharaman. A scheme of Mega Investments Textile Park will be launched in addition to the PLI Scheme which will create world-class infrastructure with plug and play facilities to enable global champions in exports, said Union Finance Minister Nirmala Sitharaman. In November, the government announced a mega PLI scheme for 10 sectors, including advanced chemistry cell battery, electronic products, automobiles and auto components, pharma, telecom and networking products, textile, foo...

Government to seek applications under PLI scheme to attract more electronics component makers SECTIONS Share Synopsis In October this year, the government cleared 16 companies under three categories of PLI—five global handset firms, including Apple’s contract manufacturers Foxconn, Wistron and Pegatron, besides Samsung, five domestic players and six component makers. India now aiming to surpass China in mobile manufacturing:Ravi Shankar Prasad at FICCI meet The government is set to seek a second round of applications next month under the production-linked incentive (PLI) scheme, specially...