September 23, 2023

We are creating some awesome events for you. Kindly bear with us.

India Approves Production Incentive Scheme for IT Hardware

The Union Cabinet led by Prime Minister Narendra Modi has approved the Production-Linked Incentive (PLI) Scheme 2.0 for IT Hardware for Enhancing India’s Manufacturing Capabilities and Enhancing Exports under the Atmanirbhar Bharat (Self-Reliant India) scheme.

The notification for the scheme was on 29 May and the window for applications under the PLI Scheme 2.0 for IT Hardware opened on 1 June. The scheme will extend an average incentive of around 5% on net incremental sales (over a base year) of goods manufactured in India and covered under the target segment, to eligible companies, for six years. The scheme aims to facilitate large-scale manufacturing in laptops, tablets, all-in-one PCs, servers, and ultra-small form factor (USFF) devices. It is expected to make a substantial contribution towards achieving an electronics manufacturing turnover of approximately US$ 300 billion by 2025-26.

The PLI Scheme 2.0 for IT Hardware is expected to contribute to the expansion and strengthening of the manufacturing ecosystem by promoting the localisation of components and sub-assemblies. Moreover, the scheme allows for a longer timeframe to develop the domestic supply chain, fostering its growth within the country.

The scheme offers enhanced flexibility and choices for applicants, and it is linked to incremental sales and investment thresholds, providing further incentives for growth. Additionally, semiconductor design, IC manufacturing, and packaging are also included as incentivised components of the PLI Scheme 2.0 for IT Hardware.

The PLI Scheme 2.0 for IT Hardware has been approved with a budgetary allocation of IN 17,000 crores (approximately US$ 2 billion), more than doubling the budget for the scheme that was first cleared in 2021 to incentivise and promote domestic manufacturing by attracting large investments in the value chain. It will be implemented from 1 July with a cap on maximum incentives available to participating companies. The scheme is expected to lead to a total production of about IN 3.35 trillion (US$ 40 billion), bring an additional investment of IN 24.3 billion (US$ 284 million) in electronics manufacturing, and will lead to the generation of 75,000 additional direct jobs.

Applicants who have already been approved under the existing PLI Scheme will have the opportunity to apply for the PLI 2.0 scheme as well. The scheme categorises applicants into three categories: global companies, hybrid companies (a combination of global and domestic companies), and domestic companies.

The Union Minister of State for Skill Development and Entrepreneurship and Electronics and IT, Rajeev Chandrasekhar, delivered a keynote address at a Digital India Dialogues session in Bengaluru on the scheme. The event witnessed the participation of various stakeholders from the technology ecosystem, including industry experts, representatives from industry associations, and startups.

The PLI scheme aims to enhance the competitiveness of Indian manufacturers by attracting investments in cutting-edge technology, fostering efficiencies and economies of scale, and promoting exports. In November 2020, the government set up PLIs for 10 sectors, which included the manufacturing of High-Efficiency Solar PV Modules and Advanced Chemistry Cell (ACC) Battery.

In September 2021, additional amounts were allocated under the scheme, particularly for the automobile industry. The focus was specifically on incentivising the manufacturing of electric and hydrogen-based vehicles. The policy also has a digitalisation component and seeks to enhance the production of electronic products within India.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend