Dixon Tech's subsidiary Padget Electronics gets approval for disbursement of PLI incentive; Stock jumps 2%

13 Sep 2022 , 11:07 AM

Padget Electronics Private Limited, a Wholly Owned Subsidiary Company of Dixon Technologies (India) Limited has received approval for disbursement of Rs53.28 crore from Empowered Committee of MEITY- Government of India, under Production Linked Incentive Scheme for manufacturing of Mobile Phones (Domestic Companies).

Commenting on this development, Atul B. Lall, Vice Chairman & MD, Dixon Technologies (India) Ltd. said, “PLI Schemes are cornerstone for government’s push for accomplishing the vision of an ‘Atmanirbhar Bharat’ and making domestic manufacturing globally competitive.

Such flagships schemes help in creating domestic champions, encourage more investments and help in making India a competitive destination of electronics manufacturing. It is a proud moment that wholly owned subsidiary of Dixon is, by far, the first entity to receive disbursement approval from Government of India under PLI scheme.

It is indeed a huge recognition and we, at Dixon, are committed to make more investments, create a component ecosystem & continue to migrate more to design led manufacturing.”

At around 11:06 AM, Dixon Technologies (India) Ltd is currently trading at Rs4,618.40 perup by Rs121 or 2.69% from its previous closing of Rs4,497.40 on the BSE.

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