’32 Companies Committed Rs 11,324 Cr, Investment of Rs 8,282 Cr till June’: Govt Highlights PLI Schemes’ Progress

Minister of state for electronics and information technology Jitin Prasada has informed Parliament that under the Production Linked Incentive (PLI) Scheme for Large Scale Electronics Manufacturing, 32 companies have committed an investment of Rs 11,324 crore, aiming for a production target of Rs 10,70,000 crore.

The minister then stated that as of March 31, 2024, these companies had invested Rs 8,069 crore out of the committed amount, which increased to Rs 8,282 crore by June 30.

Prasada provided a comprehensive update on the PLI schemes, highlighting significant investments and production targets. Here are the key points:

PLI Scheme for Large Scale Electronics Manufacturing: 32 approved companies with a committed investment of Rs 11,324 crore and a projected production target of Rs 10,70,000 crore.

PLI Scheme for IT Hardware: 14 approved companies with a committed investment of Rs 2,517 crore and a production target of Rs 1,60,751 crore. Under PLI Scheme 2.0, 27 companies were approved with a committed investment of Rs 2,955 crore and a production target of Rs 3,51,647 crore.

Covid-19 Adjustments: The tenure of the PLI Scheme for Large Scale Electronics Manufacturing was extended by one year, allowing companies to meet their production targets within any five years until 2025-26.

Prasada confirmed that the government has not altered the production or investment criteria for these schemes post-selection. However, in response to the Covid-19 pandemic, the tenure for the PLI Scheme for Large Scale Electronics Manufacturing was extended by one year, with companies given the flexibility to select any five-year period up to 2025-26 to meet their targets.

Additionally, it was stated that as of March 31, for the IT Hardware 2.0, Rs 249.46 crore had been invested.

Prasada said that of the cumulative investment of Rs 8,282 crore made under the PLI Scheme for Large Scale Electronics Manufacturing till June 30, 2024, Rs 3,136 crore was by Greenfield companies and Rs 5,146 crore by Brownfield companies.

Out of the cumulative investment of Rs 464.66 crore made in the PLI Scheme for IT Hardware and PLI Scheme 2.0 for IT Hardware till June 30, 2024, the investment made by Brownfield companies is Rs 386.09 crore and Greenfield companies is Rs 78.57 crore, he added.