The revised and expanded article on the PLI Scheme 2.0 for IT hardware, launched on May 17, 2023, would delve into the comprehensive aspects of this significant initiative. This scheme encompasses a wide range of IT hardware products, including laptops, tablets, all-in-one PCs, servers, and ultra-small form factor devices.
On 19 October 2023, 27 IT hardware manufacturers received approval under the scheme. Notably, this list includes prominent global brands like Acer, Asus, Dell, HP, and Lenovo, among others. These approvals mark a significant step in promoting India as a manufacturing hub for IT hardware.
One of the major outcomes anticipated from this scheme is the generation of substantial employment opportunities. It is estimated that around 2 lakh jobs will be created, comprising 50,000 direct and approximately 1.5 lakh indirect jobs. This development is a crucial aspect of the scheme, considering the need for job creation in the technology sector.
In terms of economic impact, the scheme is expected to catalyze a massive production value in the IT hardware sector. Over its duration, the value of IT hardware production is projected to reach around 3.5 lakh crore rupees (approximately 42 billion US dollars). This figure represents a significant boost to the domestic IT hardware industry and is indicative of the potential scale of operations under the scheme.
From the point of fresh investment, a cumulative investment of around 3,000 crore rupees (approximately USD 360 million) is anticipated, indicating the private sector’s confidence in the scheme and its potential returns.
During an address to industry leaders and the media, Minister of Railways, Communications, Electronics, and IT, Shri Ashwini Vaishnaw revealed that out of the 27 approved applicants, 23 are poised to commence manufacturing operations immediately. This readiness to start manufacturing from day zero reflects the efficiency and preparedness of the participating companies and the effectiveness of the scheme’s framework in facilitating rapid industrial mobilization.
Overall, the PLI Scheme 2.0 for IT hardware is set to play a transformative role in the Indian IT hardware sector. By attracting global and domestic companies to manufacture in India, the scheme not only aims to enhance India’s position in the global supply chain but also contributes significantly to job creation and economic growth.
picture source: www.pexels.com