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Last month, 40 proposals worth Rs. 5,000 crore were received by the ministry of electronics and IT under the IT Hardware Production Linked Incentive (PLI) 2.0 scheme, although fixed benefit limits mean not all offers will be eligible for the federal monetary support.
India is expected to approve investment proposals worth ₹4,000 crore under the revised IT hardware Production Linked Incentive (PLI) scheme. Last month, the ministry of electronics and IT received 40 proposals amounting to ₹5,000 crore, but not all will be approved due to budget constraints.
"The government wants that PLI for IT hardware 2.0 should succeed and since the majority of the companies will commence manufacturing under the scheme from April 1 next year, there will be a gap in supplies, which can be met only through imports," said an executive who participated in the meeting.
Zetwerk, which became a unicorn in 2021, is looking to invest more than Rs 1,000 crore into its consumer electronics business over the next three years, the company’s cofounder, Rahul Sharma, told ET.
The meeting discussed proposed changes, like linking the import of IT hardware to the local manufacturing of a company value and its export value of electronic items, according to sources.