MAIT Statement on Production Linked Incentive (PLI) scheme

The Ministry of Electronics and Information Technology, in an official release, said on Tuesday it approved plans of 16 companies, including Apple’s contract manufacturers Foxconn Hon Hai, Wistron and Pegatron, for starting work under the production linked incentive (PLI) scheme.

Apart from the three contract manufacturers of Apple, other global companies such as Samsung and Rising Star have also been given approval for making mobile phones in the Rs 15,000 and above value segment.

Among the domestic players, companies such as Lava, Micromax’s parent company Bhagwati Products, Padget Electronics, UTL Neolyncs, and Optiemus Electronics were granted approval by the IT Ministry, the release said.

MAIT President Mr. Nitin Kunkolienker said, “New strategy of export-led growth will help create expansion of manufacturing in India and will help to achieve scale. This will also help in expanding the value chain of components etc. Further this will also enable Indian manufacturers of both finished products and components to participate in global value chains. The policy was a result of MAIT’s continuous focus and strenuous efforts put forth along with the government. We thank the Indian government for such an incentive launch and appreciate the great effort towards making a manufacturing destination. The PLI scheme will play a vital role in increasing employment generation and contribute directly to the country’s economic growth. We congratulate the manufacturers and Brands on getting the approval for the scheme.”