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PLI Scheme: 17 more companies have been selected under the PLI scheme for the electronic sector. The production of electronic components will be promoted through these companies and on achieving the target, incentives of more than Rs 7 thousand crore will be given to the companies.
New Delhi. The most ambitious plan of Modi government is continuously moving towards success. Companies have once again been selected under the Production Based Incentive Scheme (PLI) started to promote domestic production. This time the government has launched a scheme to increase the manufacturing of electronic components. The government has approved another batch of applications under the Electronic Component Manufacturing Scheme with a total investment of Rs 7,712 crore.
IT Secretary S Krishnan said that the government has approved 17 applications out of 249 applications in the current phase. Interestingly, the current round of applications also includes the first investment coming from Jammu and Kashmir. Apart from this, companies from Uttar Pradesh, Madhya Pradesh, Karnataka, Maharashtra, Tamil Nadu and many other states are also included. These companies will be given incentives by the government on meeting the production target.
- Which companies got approval
- Equus Consumer Products Private Limited, with a total investment of Rs 1,500 crore and production of Rs 7,669 crore.
- Secure Circuits TE Connectivity India Private Limited, whose investment is Rs 612 crore.
- Jabil Circuit Private Limited, whose investment is Rs 957 crore.
- JetFab-JetCam, whose investment is Rs 55 crore.
- Micropack Private Limited, whose investment is Rs 54 crore.
- Essex Safety Components Uno Minda whose investment is Rs 264 crore.
- AT&S India (Hi-Q) Infopower Technologies Pvt. Ltd.
- Sirma Mobility Private Limited, whose investment is Rs 250 crore.
- Jammu and Kashmir based Meena Electrotech Private Limited, with an investment of Rs 111 crore.
Focus on three things for success
Union IT Minister Ashwini Vaishnav told the companies selected for the scheme that to achieve long-term success we have to achieve three key things. We have to grow our design teams, no matter how hard it takes. Second, we need to focus on Six Sigma quality in every product. Third, there is a need to develop Indian suppliers and ensure that they meet quality standards. These are my three demands. We will be in constant touch with you on this and will have to work with focus on this.
