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The government on Monday said 58 companies, including top global players have registered for the ₹17,000-crore production-linked incentive (PLI) scheme for IT hardware.
“The last date for registering for the scheme is August 30. As many as 58 companies have registered,” Alkesh Kumar Sharma, Secretary, Ministry of Electronics and Information Technology (MeitY) said.
Speaking on the sidelines of an event organised by the India Cellular and Electronics Association (ICEA), he said the response to PLI Scheme 2.0 for IT hardware has been more than expected. He also said the deadline will not be extended further.
Broadening ecosystem
The PLI Scheme 2.0 for IT hardware covers laptops, tablets, all-in-one personal computers (PCs), servers and ultra-small form factor devices. The scheme aims to broaden and deepen the IT hardware manufacturing ecosystem in the country.
In May, the Cabinet had approved a ₹17,000-crore incentive to boost local manufacturing of IT hardware like tablets and laptops, and the scheme is projected to generate an incremental production worth ₹3.35-lakh crore over a period of six years.
The government has extended the last date for receiving applications under PLI Scheme 2.0 for IT hardware two times and has fixed the deadline of August 30.
Meanwhile, outlining the potential and benefits of transitioning to a circular economy approach in electronics in India, Sharma said the circular economy approach in electronics domain must outgrow its role in e-waste management to evolve into a powerhouse for resilience, resource efficiency, and economic growth.
‘Untapped revenue’
Sighting the report released by ICEA titled ‘Pathways to Circular Economy in Indian Electronics Sector’, he said a total of six circular business models, including circular design, repair and resell, can unlock an untapped revenue potential of $7 billion by 2035. These circular models can reshape the electronics sector, drive economic growth and boost resilience.
“With an objective and data-driven methodology, the report outlines a pathway to garner economic, social and environmental gains. It proposes an anticipated incremental economic value of $1.7 billion while diverting 0.5 million tonnes of waste electrical and electronic equipment,” he added.
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