PLI scheme: 27 firms granted approval under new IT hardware
The PLI scheme aims to boost domestic manufacturing of IT hardware and make India a global hub for this sector
27 major IT hardware companies have been granted approval under the scheme
These companies plan to invest a total of Rs 3,000 crore in setting up manufacturing facilities in India
The government expects to achieve its target of manufacturing 50% of India's IT hardware requirements domestically by 2025.
The PLI scheme is expected to create jobs and boost economic growth in India.
The scheme is also expected to attract foreign investment into India's IT hardware sector.
The PLI scheme is a part of the government's larger initiative to make India a global manufacturing hub.
The government has also launched other PLI schemes for different sectors, such as pharmaceuticals and electronics.