The deadline for PLI for IT hardware applications has been extended once more

1 Aug 2023 , 02:10 AM

On Monday, the government extended the application deadline for the Rs17,000-crore production-linked incentive (PLI) plan for IT hardware for a second time. Interested businesses or individuals can now apply until August 30, 2023.

On May 14, the government announced the second phase of the production-linked incentive scheme for IT hardware, with a budget of Rs 17,000 crore, more than double the benefits in the first edition of the plan.

The initiative aims to entice multinational corporations such as Dell, HP, Apple, and Samsung to manufacture IT hardware in India, including laptops, tablets, all-in-one PCs, servers, and ultra-small form factors.

On May 14, the government issued operating rules for the amended IT Hardware PLI scheme, which address the fine print that applicants must follow. This covers the methodology for estimating domestic value addition, the components that must be localized, qualifying items covered by the plan, and other information.

After the union cabinet accepted it on May 17, the amended scheme was published in the Gazette. The new plan will provide an average reward of roughly 5%, more than doubling the prior version’s 2% incentive.

Participants’ tenure and investment options were expanded under the amended plan. While the scheme has a six-year duration, participants can select 2023, 2024, or 2025 as the base year for investing and computing incremental sales.

For feedback and suggestions, write to us at [e-mail]