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Mobile companies pledge Rs 11,000 cr under PLI scheme

Monday, 03 Aug 2020
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Industry body the India Cellular and Electronics Association (ICEA) which represents top mobile phone makers like Apple, Foxconn, Wistron, Lava, etc has committed investments worth Rs 11,000 crore under the PLI scheme. The companies will surpass manufacturing estimates by two to 2.5 times.

Companies like Samsung Wistron, Pegatron, Foxconn and Hon Hai and Indian companies such as Lava, Dixon, Micromax, Padget Electronics, Sojo, UTL and Optiemus have applied for benefits under production-linked incentive (PLI) scheme.

As per the estimates of ICEA, mobile phone companies will increase devices production in the country to around Rs 27.5 trillion on higher side under the PLI compared to government's announcement of Rs 11 trillion.

As many as 22 domestic and international firms have lined up with proposals for mobile phones production worth Rs 11 trillion, which have potential to create direct and indirect jobs for around 1.2 million people over the next five years.

Applications received under the PLI scheme with cumulative investment commitments are worth Rs 11,000 crore, total production of mobile phones at Rs 11.50 trillion with 60 percent production reserved for exports, and generation of 3,00,000 direct jobs.

The companies that have applied for components production of around Rs 45,000 crore include AT&S, Ascent Circuits, Visicon, Walsin, Sahasra, Vitesco and Neolync.

The government notified production-linked incentive scheme for large scale electronics manufacturing, the scheme for promotion of manufacturing of electronic components and semiconductors, and the modified Electronics Manufacturing Clusters (EMC 2.0) scheme.

The government expects to attract Rs one trillion investment in the sector and sees a target manufacturing revenue potential of Rs 10 trillion by 2025.

The fresh proposals have exceeded the government's manufacturing revenue target, but the final outcome will depend on the decision of the screening committee that will select projects eligible for incentives.

 
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