Centre extends application date for second phase of PLI scheme for IT hardware
Production Linked Incentive (PLI) Scheme 2.0 for IT Hardware was notified on May 29, 2023, with a budgetary outlay of Rs 17,000 crore.
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NEW DELHI: The central government has extended the application date for the production-linked incentive (PLI) scheme for IT hardware till August 30, 2023. The application acceptance was supposed to be closed today – July 31.
Production Linked Incentive (PLI) Scheme 2.0 for IT Hardware was notified on May 29, 2023, with a budgetary outlay of Rs 17,000 crore. The Union Cabinet, chaired by Prime Minister Narendra Modi, on May 17 gave the approval to introduce the scheme. The scheme is aimed at broadening and deepening the IT hardware manufacturing ecosystem in the country.
The PLI Scheme 2.0 for IT Hardware is expected to result in the broadening and deepening of the manufacturing ecosystem by encouraging the localisation of components and sub-assemblies and allowing for a longer duration to develop the supply chain within the country. As part of its Atmanirbhar and Make in India plan, the Government launched Production Linked Incentive (PLI) schemes in varied sectors to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain and reduce dependency on imports.