PLI Scheme Spurs Rs 8,282 Crore Investment in Electronics Manufacturing

Mobile phone and component makers under the PLI scheme invested Rs 8,282 crore by June 2024. A total of 32 companies were approved with a committed investment of Rs 11,324 crore, and a projected production target of Rs 10.7 lakh crore. Most of the investments came from Brownfield projects.

Mobile phone and specified components makers under the PLI scheme for large scale electronics manufacturing have cumulatively invested Rs 8,282 crore till June 2024, Parliament was informed on Wednesday.

Minister of State for Electronics and IT Jitin Prasada, in a written reply to Lok Sabha, said that a total of 32 companies were approved with committed investments of Rs 11,324 crore and a projected production target of Rs 10.7 lakh crore under the PLI (Production Linked Incentive) scheme for Large Scale Electronics Manufacturing.

He noted that out of the 32 companies approved under the scheme, seven are Greenfield companies, and 25 are Brownfield companies.

'Of the cumulative investment of INR 8,282 crore made under the scheme till June 30, 2024, the cumulative investment made by Greenfield companies is Rs 3,136 crore, and the cumulative investment made by Brownfield companies is Rs 5,146 crore,' Prasada said.

The companies under the scheme had committed to investing Rs 9,653 crore up to March 2024.

Prasada added that 27 companies approved under the PLI Scheme 2.0 for IT Hardware comprise six Greenfield firms and 21 Brownfield companies.

'Out of the cumulative investment of Rs 464.66 crore made in 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,' the minister added.

(With inputs from agencies.)