This PLI follows the now-defunct Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), which ended in March 2024.
Industry stakeholders had initially proposed a larger ₹40,000 crore allocation to support a wider range of electronic components. However, the government has currently pegged the outlay at ₹25,000 crore, though it remains open to expanding the scheme based on industry response.
The new PLI scheme is expected to attract investments worth ₹40,000-45,000 crore, bolstering the country’s electronics ecosystem. By incentivising local production, the government aims to enhance value addition, create jobs, and position India as a global manufacturing hub for critical electronics components.
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MeitY likely to send ₹25,000 crore electronics PLI proposal to Cabinet for approval
This PLI follows the now-defunct Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), which ended in March 2024.
Industry stakeholders had initially proposed a larger ₹40,000 crore allocation to support a wider range of electronic components. However, the government has currently pegged the outlay at ₹25,000 crore, though it remains open to expanding the scheme based on industry response.
The new PLI scheme is expected to attract investments worth ₹40,000-45,000 crore, bolstering the country’s electronics ecosystem. By incentivising local production, the government aims to enhance value addition, create jobs, and position India as a global manufacturing hub for critical electronics components.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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