Home Business MeitY invites second round of applications under PLI; targets 30 companies for...

MeitY invites second round of applications under PLI; targets 30 companies for investment

  • Companies who were already selected in the first round of applications cannot participate in the second round
  • Group companies having minority or non-controlling interest in the applicant companies are permitted to vouch for incentives

The Production Linked Incentive(PLI), which is aimed at boosting electronics manufacturing in India has now started receiving applications for the second round of large-scale manufacturing by the Ministry of Electronics and Information Technology (MeitY). The application has a special focus on building domestic electronic components such as semiconductors, motherboards, PCBs, and many more.

The official spokesperson of MeitY announced that applications will be received until March 31 and then if needed it will be extended, which will be in accordance with the guilaines directed by the ministry. 

The official statement of the notice reads, “The second round of the PLI scheme is open for accepting applications. The tenure of the second round of PLI scheme is for four years and the incentive shall be applicable from April 1, 2021.”

Until July 31, the window of first round of application is open that has magnetised investment from international tycoons such as Foxconn, Pegatron, Wistron-contract manufacturer of Apple; Samsung; including domestic players such as Opetimus, Lava, and Dixon that assured investment of ₹11,000 Core. 

The second round of application has opened the window of opportunities for up to 30 companies, while the first round targeted 20 companies for mobile phone manufacturing. MeitY’s new guidelines have selected passive components like assembly, resistors, PCBs, ATMP (assembly, testing, marketing and packaging) units, semiconductor equipment such as diodes and transistors.

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