The Finance Ministry approved a Production-Linked Incentive (PLI) scheme worth Rs 25,000 crore for electronic components. This initiative aims to boost domestic manufacturing and reduce reliance on imports, especially from China. The scheme includes key components like printed circuit boards (PCBs), batteries, displays, and camera modules. The government expects this scheme to attract investments exceeding Rs 40,000 crore and create many jobs in India’s electronics sector.
The goal of the scheme is to increase local value addition and strengthen the electronics manufacturing ecosystem in India. By promoting local manufacturing, the government aims to make India a significant player in the global electronics supply chain. The PLI scheme aligns with the ‘Make in India’ vision, encouraging more companies to manufacture their products domestically.
This move is also expected to contribute to economic growth by creating jobs and reducing the country’s reliance on imported electronic components. The government believes that by building a strong electronics manufacturing base, India can achieve greater self-reliance and competitiveness on the global stage.
