27 companies have been approved for PLI, says Vaishnaw on IT hardware

Team Blitz India

NEW DELHI: Union Minister for Communications, Electronics and IT, Ashwini Vaishnaw, announced a significant milestone in India’s IT hardware sector, stating that 27 companies have received approval under the Production Linked Incentive (PLI) within a short timeframe.

Vaishnaw said, “As you’re aware, a few months back, PM Modi approved the(PLI) scheme for IT hardware. And within the very short time frame, I’m very happy to announce that 27 companies have been approved for the PLI.”

Vaishaw said, “The best part is almost 95 per cent of these, the exact number is 23 out of these are ready to start their manufacturing on day 0. And about 4 companies will start their manufacturing within 90 days.”

He added, “These 27 applications will lead to about investment of Rs 3 thousand crores additional production amount Rs 3 lacs 50 thousand crores and direct employment of about Rs 50 thousand and indirect employment about a lac and 50 thousand. So total employment about 2 lac will be created. The value chain is shifting to India.”