Cabinet to approve PLI scheme for electronics, medical devices

The Union Cabinet is likely to approve a Production Linked Incentive (PLI) scheme for laptops and tablets in its meeting today. PLI for the medical devices and pharmaceutical sector is also likely to be taken up in the meeting.

Sources revealed that the PLI scheme for electronic gadgets could entail an investment of over Rs 7,000 crore. “Companies setting up manufacturing units in India are likely to be offered a upto 4 per cent PLI. PLI in medical devices is likely to attract investment worth about Rs 10,000 crore,” said a source close to the development.

In its meeting held last week, the Union Cabinet approved the PLI scheme for telecom and networking products with an outlay of Rs 12,195 crore.

The scheme approved last week aims at manufacturing telecom and networking products in India and proposes a financial incentive to boost domestic manufacturing and attract investments in the target segments of telecom and networking products in order to encourage Make in India.

The scheme will also encourage exports of telecom and networking products ‘Made in India’. “It is expected that the scheme will bring more than Rs 3,000 crore investment and generate huge direct and indirect employment,” the government said in a release after the announcement of the scheme.

BusinessToday