The government has worked out a production-linked incentive (PLI) package of nearly Rs 42,000 crore for those …Read More
NEW DELHI: In one of the biggest incentive schemes to boost domestic manufacturing of mobile phones and their components, the government has worked out a production-linked incentive (PLI) package of nearly Rs 42,000 crore for those making in India, planning to offer a benefit of 4-6% on incremental sales (of goods manufactured locally) for a period of five years.
Companies making and selling high-end devices, such as iPhone from Apple and the Galaxy S and Note Series by Samsung, would be the biggest beneficiaries, as would some homegrown players like Lava, Karbonn, Micromax, and Intex.
The scheme — which will be rolled out by the IT ministry and has been prepared in consultation with the ministries of finance and commerce as well as the Niti Aayog — is aimed at making India a hub for manufacturing of electronics and components, standing parallel to other manufacturing powerhouses such as China and Vietnam, highly-placed sources told TOI.
“The electronics hardware manufacturing sector faces the lack of a level-playing field vis-à-vis competing nations… (and) suffers from a disability of 8.5% to 11% on account of lack o