Three Apple suppliers among 16 cos that get nod under PLI scheme

The Indian Express had, in July, reported that Samsung, Pegatron, and Rising Star were the first global applicants for the government’s PLI scheme. The Centre had, in April, notified the new PLI scheme, under which companies that set up new mobile and specified equipment manufacturing units or expanded their present units would get incentives of 4-6 per cent on incremental sales from goods made in India.

Among the domestic players, companies such as Lava, Micromax’s parent company Bhagwati Products, Padget Electronics, UTL Neolyncs, and Optiemus Electronics were granted approval by the IT Ministry, the release said.

In the specified electronic component segment, Austria’s AT&S, US-based Visicon, as well as others such as Ascent Circuits, Walsin, Sahasra, and Neolync were granted approval to set up units under the PLI scheme.

The PLI scheme, open for a total of five years, aims to give out incentives worth Rs 5,334 crore in total in the first year, to be divided among all the successful applicants. The total incentive to be given to each company will be decided by an empowered committee, which will have secretaries from the Department of Economic Affairs, Department of Expenditure, Department of Revenue, Department for Promotion of Industry and Internal Trade, Directorate General of Foreign Trade, apart from the MeitY secretary and the CEO of the Niti Aayog.