- Thursday, March 06, 2025
By: Shubham Ghosh
The Indian government on Tuesday (20) approved incentives for Foxconn India and Padget Electronics (cent per cent subsidiary of Dixon Technologies), worth Rs 357.17 crore (£36 million) and Rs 58.29 crore (£5.87 million), respectively, under the production-linked incentive (PLI) scheme for large-scale electronics manufacturing (LSEM), the Hindu BusinessLine reported.
The report India’s government think tank NITI Aayog as saying in a report that Foxconn Hon Hai Technology India Mega Development Pvt Ltd (Foxconn India) is the first global company that has been approved under the target segment ‘Mobile Phones’ (Category: Invoice Value Rs 15,000 [£149.44] and above) to get incentive under mobile manufacturing for the period between August 1, 2021, and March 31, 2022, based on its incremental incentives and sales figures.
Also, Padget Electronics, a domestic firm, has been approved by the empowered committee headed by the CEO of NITI Aayog, to receive incentive under mobile manufacturing for the quarter extending from January to March 2022 based on its incremental investments and sales figures under the target segment ‘Mobile Phones’ (category: domestic companies).
Padget Electronics had already got Rs 53.28 crore (£5.3 million) under the PLI scheme for LSEM for the period August-December 2021 on the basis of its incremental investments and sales figures.
The PLI scheme for LSEM, under India’s ministry of electronics and IT, is working towards making the country a competitive destination for electronics manufacturing and boosting ‘Atmanirbhar Bharat’ (self-reliant India) while creating more global champions in the same sector.
