Government has said that it has approve the incentives for two companies, Foxconn India and Padget Electronics, for mobile manufacturing under the production-linked incentive (PLI) scheme for the large-scale electronics manufacturing (LSEM) sector.
As per statement from NITI Aayog, the Empower Committee head by NITI Aayog Chief Executive Officer Param Iyer approve incentives for two companies, one a domestic company and the other a global company, for mobile manufacturing under the production-linked incentive (PLI) scheme.
Foxconn Hon Hai Technology India Mega Development is the first global company that has approve under the target segment ‘Mobile Phones‘ to receive incentives under mobile manufacturing for the period from 1st August, 2021, till 31st March, 2022, based on its incremental investments and sales figures, as per the statement release.
The incentive amount approve is Rs. 357.17 crore.
As per statement, Foxconn Hon Hai Technology India Mega Development (or Foxconn India), own by Hon Hai/Foxconn Technology Group, is part of the Foxconn Group, which is the world’s No. 1 manufacturer/assembler of mobile phones.
Foxconn India is a Taiwanese multinational electronics contract manufacturer with its headquarters in Tucheng, New Taipei City.
Homegrown company Padget Electronics has approve by the Empower Committee to receive incentive under mobile manufacturing for the quarter January-March this year based on its incremental investments and sales figures under the target segment ‘Mobile Phones‘, as per NITI Aayog.
The incentive amount approve is Rs. 58.29 crore.
Padget Electronics is a wholly-own subsidiary of Dixon Technologies and has manufacturing facilities in Noida, Uttar Pradesh, as per statement.
Padget Electronics had already receive an amount of Rs. 53.28 crore under the PLI scheme for large-scale electronics manufacturing for August-December 2021 based on its incremental investments and sales figures, the statement of NITI Aayog said.
Under the ministry of electronics and IT, the proposals for disbursement of incentives were consider by the Empowered Committee, comprising NITI Aayog CEO Param Iyer, department for promotion of industry and internal trade (DPIIT) Secretary Anurag Jain, ministry of electronics and information technology (MeitY) Secretary Alkesh Kumar Sharma, and other members of the Empowered Committee.
