Dixon Technologies plans to invest Rs 250 crore and hire 2,500 people in the next 8-9 months under Product Linked Incentive (PLI)
Dixon Technologies plans to invest Rs 250 crore and hire 2,500 people in the next 8-9 months to expand operations to take advantage of the Product Linked Incentive (PLI) scheme.
On April 1, the Government of India notified three schemes comprising total incentives of around Rs 48,000 crore to boost electronics manufacturing in the country. Electronics manufacturing companies will get 4-6 percent incentives based on certain incremental sales every year.
The company is readying to apply for the PLI scheme shortly, Dixon Technologies Chairman Sunil Vachani said, “The schemes announced by the government are a game-changer. We will apply for the PLI scheme shortly. Dixon plans to invest Rs 250 crore and hire 2,500 people over a period of next 8-9 months,”
“According to industry estimates, mobile manufacturing companies have the potential to get an incentive of around Rs 7,500 crore if they scale up production to worth about Rs 1.5 lakh crore over the next five years under the PLI scheme,” he said
The government has started inviting applications for the same through the scheme implementing partner Industrial Finance Corporation of India (IFCI). Under the scheme, the government aims to attract the top 5 global mobile manufacturing companies who control 80 percent of the global market in the segment and also promote five local companies in expanding their business as national champions. “This is the first time the government has come up with a scheme to promote local companies as national champions.
The scheme will help Indian mobile manufacturing companies to go global as well,” Sunil Vachani said. PTI
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