Skip to content
TechVibe

TechVibe

  • Home
  • Web3
  • Technology
  • Health
  • Business
  • Sports
    • Cricket
    • Football
  • Press Release
  • Contact Us
  • Toggle search form

All About the Indian Government’s Subsidies Granted to Global IT Giants such as Dell, HP, and Foxconn

Posted on November 22, 2023 By Haley Bennett

Indian Government Approves 27 Companies for Production Linked Incentive (PLI) Scheme

In a strategic move to strengthen India’s position in the global electronics supply chain, the Indian government has approved 27 companies, including industry leaders Dell, HP, and Foxconn, for participation in the Rs 200 crore PLI scheme. This initiative aims to boost domestic production of IT hardware and achieve an annual output of Rs 30,000 crore by 2026.

Minister for Electronics and IT Ashwini Vaishnaw expressed his satisfaction with the approvals, highlighting that nearly 95 percent of the approved companies are ready to start manufacturing from day one. This development positions India prominently in the production landscape of PCs, servers, laptops, and tablets.

Major industry players such as New Link, Zenus, Mega, Dell, Flextronics, Padget, Foxconn, HP, Lenovo, and Optimus are among the companies granted approval, signaling a significant shift in the value chain towards India.

The approved companies are expected to collectively invest Rs 36 crore and create numerous jobs within the IT hardware sector. This approval is not limited to global players; domestic manufacturers, including Dixon Technologies and VVDN, have also received the green signal.

The sanctioned applications are projected to drive an additional investment of Rs 3,000 crores, significantly increasing the overall production value to Rs 3.5 lakh crores and generating 2 lakh jobs, including 50,000 direct employment opportunities and 1.5 lakh indirect employment opportunities. This move is sure to bolster India’s influence in global technology manufacturing.

Haley Bennett

I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.

Technology

Post navigation

Previous Post: ‘David Warner responds to Mohammad Kaif’s comments about the World Cup, emphasizing the need to perform when it counts’
Next Post: Upcoming Fixtures for Lionel Messi’s National Football Team: Argentina’s 2023 Match Schedule

Related Posts

Rephrase the title:OnePlus 12 Vs OnePlus 12R: The Ultimate Comparison Of Two Flagship Devices — Which One Should You Buy? Technology
Ghazal Alagh and Vineeta Singh Named Among India’s Top 10 Self-Made Female Entrepreneurs Technology
Rephrase the title:CES 2024: 3 AR Smart Glasses That May Infiltrate Your Life Soon Technology
Rephrase the title:Croma Republic Day Sale 2024: Deals And Offers On Smartphones, TVs, Home Appliances, Apple Watch And More Technology
Rephrase the title:Samsung Galaxy S24 FE Leak Points To Impressive Features, Near Flagship Quality; Here’s What To Expect Technology
Rephrase the title:iPhone 16 Camera Button Wiil Allow Users To Zoom And Focus With Simple Swipes; Report Technology

Recent Posts

  • Robin Open Social-Fi: Revolutionizes Gaming with Innovative Integration and Global Partnerships
  • $GUMMY Set to Launch New Meta On Staking on Solana
  • BinoStake.io: Transforming Crypto Investments On BNB Chain with Liquid Staking Solutions
  • Mocaverse to Develop Decentralized Social Layer
  • Expansion of Web3 Fueled by Hong Kong’s Financial Secretary

Categories

  • Business
  • Cricket
  • Football
  • Health
  • Press Release
  • Technology
  • Web3

About Us

Welcome to TechVibe9, where the rhythm of technology meets innovation! We are a group of tech enthusiasts on a mission to uncover and showcase the latest in the tech world.

Mail Us : support@techvibe9.com

Latest Post

  • Robin Open Social-Fi: Revolutionizes Gaming with Innovative Integration and Global Partnerships
  • $GUMMY Set to Launch New Meta On Staking on Solana
  • BinoStake.io: Transforming Crypto Investments On BNB Chain with Liquid Staking Solutions

Helpful Links

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions

Copyright © TechVibe9

Powered by PressBook Masonry Dark