Foxconn India, Padget are PLI beneficiaries |
An India- empowered committee headed by NITI Aayog CEO Param Iyer on December 20 approved two beneficiaries, Foxconn India and Padget Electronics, under the production-linked incentive scheme (PLI) for large-scale electronics manufacturing. As per the NITI Aayog, Foxconn Hon Hai Technology India Mega Development Private Ltd (Foxconn India) is the first global company that has been approved to receive incentives under mobile manufacturing for the period between August 1, 2021and March 31 2022 based on its incremental investments and sales figures. The incentive amount approved is Rs 357.17 crores. Foxconn India is owned by Hon Hai Precision Industry Company Ltd which is a part of the Foxconn Group. It is the world`s No. 1 manufacturer or assembler of mobile phones. The proposals for the disbursement of incentives were considered by the empowered committee, comprising NITI Aayog CEO Param Iyer, DPIIT Secretary Anurag Jain, MeitY Secretary Alkesh Kumar Sharma, and other members of the Empowered Committee. As of September 2022, the PLI scheme for large-scale electronics manufacturing has attracted investments of Rs 4,784 crores and led to a total production of Rs 2,03,952 crores, including exports of Rs 80,769 crores. The scheme has also generated 40,916 jobs. The PLI for the large-scale electronics manufacturing sector has attracted leading global players, including Foxconn, Samsung, Pegatron, Rising Star, and Wistron, while leading domestic companies, including Lava, Micromax, Optiemus, United Telelinks Neolyncs, and Padget Electronics, have also participated in this scheme.
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