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Union Budget 2024: Now’s The Time To Broaden PLI Focus, Urges India’s Electronics Manufacturing Industry

Inc42 · 1y ago

Union Budget 2024: Now’s The Time To Broaden PLI Focus, Urges India’s Electronics Manufacturing Industry

The upcoming Union Budget 2024-25 in India is generating high expectations from various sectors, including the startup ecosystem and the wider business community. While the government's policies have generally benefited the sunrise industries so far, there are some gaps that need attention. Specifically, there is a need for fine-tuning and extending the benefits of the Production Linked Incentive (PLI) scheme to electronics component manufacturing companies and other related categories. This would create a complete ecosystem and ensure that PLI benefits reach the entire supply chain. Additionally, suggestions have been made to increase funding, provide tax incentives, and reduce GST for private sector electronics R&D investments to promote the development of new technologies.

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Union Budget 2025: MeitY gets a 48% boost; PLI in electronics, IndiaAI Mission; cybersecurity main thrust areas

Economic Times

Economic Times · 6m ago

Union Budget 2025: MeitY gets a 48% boost; PLI in electronics, IndiaAI Mission; cybersecurity main thrust areas

The Union Budget 2025 significantly boosts funding for the Ministry of Electronics and Information Technology (MeitY) by 48%, reaching over Rs 26,000 crore. Key focus areas include the IndiaAI Mission and updated production-linked incentive (PLI) schemes for semiconductors and electronics manufacturing. Notably, the budget extensively supports cybersecurity projects and increases allocations for the IndiaAI Mission and semiconductor development. However, concerns persist over AI investment competitiveness compared to global peers like the US and China.

Govt approves PLI for electronics components; industry applauds

Inshorts · 4m ago

Govt approves PLI for electronics components; industry applauds

The Union Cabinet approved a ₹22,919 crore PLI scheme for electronics components, boosting the 'Make in India' initiative and strengthening manufacturing. Industry associations like IESA, FAIITA, and companies like HCL have welcomed the move, signaling positive growth for India’s electronics sector. The scheme is expected to drive innovation and job creation.

New PLI Scheme For Component Makers To Replace SPECS

Inshorts · 1y ago

New PLI Scheme For Component Makers To Replace SPECS

MeitY will unveil a new PLI scheme for electronic component manufacturing after elections, as the current SPECS scheme expired on March 31 This scheme will offer incentives based on incremental production and sales targets, with focus on increasing domestic value addition as electronics exports rise. India aims to become an electronics manufacturing hub with $300 billion in production by 2026.

Budget 2024: Allocation for MeitY increased by 52% to Rs 21,936 crore

Economic Times

Economic Times · 1y ago

Budget 2024: Allocation for MeitY increased by 52% to Rs 21,936 crore

The Ministry of Electronics and Information Technology (MeitY) is set to receive a 52% increase in its budget allocation for 2024-25, reaching Rs 21,936.9 crore. This boost is primarily due to the capital allocation towards the development of the semiconductor and display manufacturing ecosystem in India, which has seen a significant 355% increase to Rs 6,903 crore. Additionally, Rs 551.75 crore has been allocated for the IndiaAI mission, aimed at strengthening the country's AI infrastructure. Notably, funds for rural digital literacy, PLI schemes for electronics, and the promotion of digital payments have not been allotted this year.

Three in five laptops to be made in India, aiming to be No.2 brand: Acer’s Kohli

Livemint

Livemint · 1y ago

Taiwanese electronics brand Acer plans to increase laptop production in India, with the aim of manufacturing three out of every five devices sold in the country. Acer India's president and managing director, Harish Kohli, revealed the company's goal of bolstering local manufacturing to broaden its presence in the Indian consumer market. The move aligns with India's production-linked incentive (PLI) scheme for IT hardware, which incentivizes domestic assembly of laptops and other computing devices. Acer is also positioning itself as a competitor to Dell, India's current second-largest PC brand.

Electronics parts PLI draws in Dixon, Tatas, Foxconn and others

Economic Times

Economic Times · 4m ago

Electronics parts PLI draws in Dixon, Tatas, Foxconn and others

Several companies, including Dixon, Tata Electronics, Zetwerk, and Foxconn, are planning investments under India's new production-linked incentive (PLI) scheme for electronic components. Foxconn is pursuing the smartphone display module category with plans for a unit in Tamil Nadu. Tata Electronics and Dixon are exploring various categories, including enclosures and display modules. Zetwerk also evaluates opportunities to enhance its component business. This initiative aims to strengthen India’s electronic system design and manufacturing ecosystem.

Electronics, pharma sectors corner 70% of PLI disbursements in FY25

YourStory

YourStory · 1m ago

Electronics, pharma sectors corner 70% of PLI disbursements in FY25

In FY25, the Indian government disbursed Rs 10,114 crore under the production-linked incentive (PLI) schemes, with 70% directed towards electronics and pharmaceuticals. Electronics received Rs 5,732 crore, while pharmaceuticals got Rs 2,328 crore, reflecting India's manufacturing strength in these sectors. The PLI, introduced in 2021, supports manufacturing in 14 sectors. Electronics, now a major export, saw a 32.46% growth in shipments, bolstered by computer hardware and peripheral sales doubling in the last year.

Budget 2025 technology announcements: Impact on AI, TVs, phones, deep-tech, GCCs

Livemint

Livemint · 6m ago

Budget 2025 technology announcements: Impact on AI, TVs, phones, deep-tech, GCCs

The Union Budget 2025, presented by Finance Minister Nirmala Sitharaman, focuses on boosting India's technology sector and self-reliance. Key measures include raising customs duty on flat panel displays to encourage domestic manufacturing, establishing a center of excellence in AI for education, and creating a ₹20,000-crore deep-tech fund. Tax exemptions aim to incentivize manufacturing in electronics and battery sectors, while framework development supports Industry 4.0 and rural internet connectivity. The budget aims to enhance local manufacturing and innovation.

Guidelines for Electronics Component Manufacturing Scheme Finalised, Portal To Be Launched Soon: Ashwini Vaishnaw

OutlookIndia

OutlookIndia · 4m ago

Guidelines for Electronics Component Manufacturing Scheme Finalised, Portal To Be Launched Soon: Ashwini Vaishnaw

The Indian government has finalized guidelines for the Electronics Component Manufacturing Scheme, set to enhance the country's electronics manufacturing capabilities. An online portal for the scheme will be launched soon, facilitating faster access for eligible companies. Key focus areas include Printed Circuit Boards (PCBs), assemblies, and electro-mechanical components. This initiative aims to strengthen India’s electronics ecosystem, create jobs, and potentially increase export capabilities to $500 billion, with VVDN leading design-led manufacturing.

Meet the firms taking a big bite of Apple’s India manufacturing pie

Economic Times

Economic Times · 2m ago

Meet the firms taking a big bite of Apple’s India manufacturing pie

Apple is expanding its manufacturing in India as part of its strategy to reduce dependence on China, aided by government incentives like the PLI scheme. This move highlights Apple's growing focus on diversifying its production locations. The shift also reflects broader trends in global manufacturing as companies seek operational resilience. Key players, such as Foxconn and Tata Electronics, are involved in Apple's Indian manufacturing ecosystem, highlighting India's increasing importance in the global technology supply chain.

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