Foxxcon India becomes first global company to get PLI push as NITI Aayog gives nod

Further, Padget Electronics Private Ltd, a 100 percent subsidiary of Dixon Technologies Private Ltd, is the first domestic player that got approved by the empowered committee to receive an incentive under mobile manufacturing for the quarter of January–March 2022 based on its incremental investments and sales figures under the target segment mobile phones. The incentive amount approved is Rs 58.29 crore.

The company has manufacturing facilities in Noida, Uttar Pradesh, and had already received an amount of Rs 53.28 crore under the PLI scheme for large-scale electronics manufacturing for the period August–December 2021 based on its incremental investments and sales figures.

The proposals for the disbursement of incentives were considered by the empowered committee, comprising NITI Aayog CEO Param Iyer, DPIIT Secretary Anurag Jain, MeitY Secretary Alkesh Kumar Sharma, and other members of the Empowered Committee.

As of September 2022, the PLI scheme for large-scale electronics manufacturing has attracted investments of Rs 4,784 crore and led to a total production of Rs 2,03,952 crore, including exports of Rs 80,769 crore. The scheme has also generated 40,916 jobs.

The PLI for the large-scale electronics manufacturing sector has attracted leading global players, including Foxconn, Samsung, Pegatron, Rising Star and Wistron, while leading domestic companies, including Lava, Micromax, Optiemus, United Telelinks Neolyncs, and Padget Electronics, have also participated in this scheme.