New Delhi (India), May 18: The Electronic Industries Association of India (ELCINA) has expressed its warm welcome to the Government of India’s announcement of the updated Production Linked Incentive (PLI) scheme 2.0 for the IT hardware sector. The revised scheme, which nearly doubles the overall outlay to approximately Rs. 17,000 crore, is a significant step towards bolstering the domestic manufacturing ecosystem.
Under the six-year tenure of the PLI 2.0 scheme, the government aims to attract investments worth Rs. 2,430 crores. ELCINA acknowledges that this initiative addresses a long-standing demand of the industry and commends the government for actively considering and implementing it.
The scheme offers incentives to three categories of companies- Global IT Hardware Companies, Hybrid (Global/Domestic) Companies, and Domestic Companies. Existing PLI 1.0 applicants are also allowed to apply under PLI 2.0.
Additionally, ELCINA welcomes the flexibility and migration provisions of the PLI 2.0 scheme. This feature is especially heartening as it will enable more companies to take advantage of the scheme and invest in the growth of the Indian electronics and IT industry.
Shri Sanjay Agarwal, President of ELCINA, “The PLI Scheme 2.0 for IT Hardware will help India emerge as a hub for IT Hardware manufacturing and increase the country’s exports. It will encourage domestic companies to manufacture more IT hardware products in India and promote the development of the IT hardware ecosystem in the country.”
Shri Rajoo Goel, Secretary General of ELCINA, emphasized the positive impact of the PLI 2.0 scheme, stating, “This move will enable more Indian companies to grow and combine design and manufacturing capabilities, thus becoming global brands.” He further highlighted that PLI 2.0 for IT hardware would act as a catalyst for India’s $300 billion electronics manufacturing mission, a vital component of India’s trillion-dollar digital economy goal. The scheme will provide additional incentives for companies to invest in establishing their manufacturing base in India, including original equipment manufacturers (OEMs) incorporating Indian-designed intellectual property into their systems and products.
ELCINA believes that the PLI 2.0 scheme for IT hardware will foster sectoral growth, making India a global hub for IT hardware manufacturing. The association remains committed to working closely with the government to ensure the effective implementation of the scheme and to support the growth and development of the electronics industry in India.
About ELCINA (Electronic Industries Association of India)
Electronic Industries Association of India was established in 1967 as the first industry association supporting electronics hardware when India’s Electronics industry was still in its infancy. Since then, ELCINA has established itself as an interactive forum for electronics and IT manufacturers.
Our key objective is to promote manufacturing, research & development, higher value addition and business expansion in the Electronic System Design & Manufacturing (ESDM) sector. ELCINA delivers this through knowledge sharing, industry research, policy support and enabling the creation of an efficient eco-system in the country. We engage with all stakeholders and the Government and promote B2B as well as B2G industry programs to facilitate the same.
ELCINA actively interacts with the government and advises it on policy and business environment issues. It networks with technical institutions and business support organizations in India and abroad to enable business expansion and information dissemination on technical developments. With greater liberalization, ELCINA’s focus has shifted to professional and value-added services to the Electronics Community.
If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.