18th May, 2023 Economy
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- The Centre approved an updated production-linked incentive (PLI) scheme for IT hardware.
ALL ABOUT PLI SCHEME: https://www.iasgyan.in/blogs/the-pli-scheme-all-you-need-to-know
PLI for IT Hardware
- After the success of the PLI scheme in mobile phones manufacturing, the government has come out with PLI 2.0 scheme for the IT hardware sector that aims to boost domestic manufacturing and attract large investments and jobs over the coming years.
- PLI 2.0 for IT hardware will be a catalyst for India's $300 billion electronics manufacturing mission, an important part of India's trillion dollar digital economy goal.
- The cabinet's approval of IT hardware PLI 2.0 is focused on expanding India's production and presence in the global value chains of IT hardware/servers/laptops.
- It will create additional incentives for companies to invest and set up their manufacturing base in India and also the original equipment manufacturers (OEMs) that incorporate Indian-designed IP into their systems and their products.
Q. If the PLI scheme goes through precise planning and execution, it could become one of the most vital initiatives that have been adopted in our country. Comment.