Shri Ashwini Vaishnaw, Hon’ble Minister of Communications, Electronics and IT assures employment boom for IT students
Kolkata, May 17, 2023:
Shri Ashwini Vaishnaw, Hon’ble Minister of Railways, Communications, Electronics and Information Technology held a press conference today to address media regarding Cabinet decision to boost electronics and concerned manufacturing sector. This afternoon media people across the country joined the press conference virtually at the headquarters of different Zonal Railways including Eastern Railway headquarters at Fairlie Place. In the press conference Shri Ashwini Vaishnaw, Hon’ble Minister of Railways, Communications, Electronics and Information Technology informed the media regarding Cabinet nod for Production Linked Incentive Scheme (PLI) for IT hardware.
In the press conference Shri Kausik Mitra, Chief Public Relations Officer of Eastern Railway on behalf of people of West Bengal asked Hon’ble Minister of Railways, Communications, Electronics and Information Technology regarding provisions made by the Union Government and for the people of West Bengal to materialize ‘Vocal for Local’ mission by Hon’ble Prime Minister keeping in view technical and other talents in the skilled human resource in West Bengal. Hon’ble Minister of Railways, Communications, Electronics and Information Technology assured that the government under the leadership of Hon’ble Prime Minister Shri Narendra Modi has planned for opening of IT and technological hub for students of West Bengal to boost employment opportunities for IT qualified people in West Bengal in export oriented industries producing mobiles, laptops, tabs and other electronics components, exporting to foreign countries and to earn revenue for the government.
The context, salient features and significance of PLI for IT hardware as mentioned by Hon’ble Minister of Railways, Communications, Electronics and Information Technology are as follows :-
PLI for IT hardware
•Electronics manufacturing in India has witnessed consistent growth with 17% CAGR in last 8 years. This year it crossed a major benchmark in production – 105 billion USD (about Rs 9 lakh crore)
•India has become the world’s second largest manufacturer of mobile phones. Exports of mobile phones crossed a major milestone of 11 billion USD this year (about Rs 90 thousand crore)
•The global electronics manufacturing ecosystem is coming to India, and India is emerging as a major electronics manufacturing country
•Building on the success of Production Linked Incentive scheme (PLI) for mobile phones, the Union Cabinet today approved PLI for IT hardware
2. Salient features:
•PLI for IT hardware covers laptops, tablets, all-in-one PCs, servers and ultra small form factor devices
•The budgetary outlay of the scheme is Rs. 17 thousand crores
•The tenure of this scheme is 6 years
•Expected incremental production is Rs. 3.35 Lakh Crores
•Expected incremental investment is Rs. 2,430 Crores
•Expected incremental direct employment is 75 thousand
•India is emerging as a trusted supply chain partner for all global majors. Large IT hardware companies have shown keen interest in establishing manufacturing facilities in India. This is further supported by strong IT services industry having good demand within the country.
•Most majors would like to supply domestic markets within India from a facility situated in India as well as make India an export hub.