09
Nov
PLI scheme
What is the production linked incentive scheme?
- The Ministry of Electronics and Information Technology (MeitY) notified PLI scheme on April 01, 2020.
- It offers a production linked incentive to boost domestic manufacturing and attract large investments in mobile phone manufacturing and specified electronic components, including Assembly, Testing, Marking and Packaging (ATMP) units.
- It will extend an incentive of 4% to 6% on incremental sales (over a base year) of goods manufactured in India and covered under target segments.
- It will be active for five years with the financial year (FY) 2019-20 considered as the base year for calculation of incentives.
- It will be implemented through a Nodal Agency which shall act as a Project Management Agency (PMA) and be responsible for providing secretarial, managerial and implementation support and carrying out other responsibilities as assigned by MeitY from time to time.
Eligibility for the scheme-All electronic manufacturing companies which are either Indian or have a registered unit in India will be eligible to apply for the scheme. These companies can either create a new unit or seek incentives for their existing units from one or more locations in India.
- Any additional expenditure incurred by companies on the plant, machinery, equipment, research and development and transfer of technology for the manufacture of mobile phones and related electronic items will be eligible for the incentive scheme.
- The investments done by companies on land and buildings for the project will not be considered for any incentives.
Benefits:
- It would tremendously boost the electronics manufacturing landscape and establish India at the global level in the electronics sector.
- It will attract big foreign investment in the sector and open tremendous employment opportunities.
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