Govt announces first list of beneficiaries under electronics PLI | The Financial Express

Govt announces first list of beneficiaries under electronics PLI

The Aayog in a statement said the Parameswaran Iyer-headed committee approved the first incentive for mobile manufacturing under the PLI scheme for large-scale electronics manufacturing.

Govt announces first list of beneficiaries under electronics PLI
This is the first-ever disbursement under any PLI scheme, it added.

An empowered committee headed by Niti Aayog CEO on Friday approved 32 beneficiaries under the production-linked incentive scheme for large-scale electronics manufacturing, including 10 for mobile.

The Aayog in a statement said the Parameswaran Iyer-headed committee approved the first incentive for mobile manufacturing under the PLI scheme for large-scale electronics manufacturing.

This is the first-ever disbursement under any PLI scheme, it added.

“Thirty-two beneficiaries had been approved under the PLI scheme for Large-Scale Electronics Manufacturing, of which 10 (5 global and 5 domestic companies) were approved for mobile manufacturing,” the statement said.

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Padget Electronics Pvt Ltd, a domestic company, is the first beneficiary approved by the empowered committee to receive incentive under mobile manufacturing based on its incremental investment and sales figures for FY 2021–22, it added.

Padget Electronics is a 100% subsidiary of Dixon Technologies and has manufacturing facilities in Noida, Uttar Pradesh.

According to the statement, for the quarter ending June 2022, the applicants under this PLI scheme had undertaken sales of Rs 1.67 trillion, including export of Rs 65,240 crore.

This PLI scheme has also generated employment for 28,636 people and the applications for incentives by the other beneficiaries will also be considered for approval soon, it added.

The PLI scheme on large-scale electronic manufacturing, which includes manufacturing of mobile phones and specified electronic components, was approved in March 2020, with a total outlay of Rs 38,645 crore.

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