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The India Cellular & Electronics Association (ICEA) recently announced the formation of a committee to promote manufacturing and exports of the IT hardware sector. The panel headed by Ketan Patel, HP India’s Managing Director, will set up a standard plan for substantial investments towards establishing a globally competitive IT hardware parts, components, and design ecosystem in the country by 2026.
As stated by Patel, the worldwide PC and tablet market is around USD 230 billion, and it is important to develop economies of scale to develop a sustainable manufacturing base in India.
At the beginning of this month, the Electronics and IT Ministry chose 14 applicants under the Production-Linked Incentive (PLI) scheme for the manufacturing of IT hardware in the country. The prominent global players selected under the incentive scheme are Wistron, Dell, Flextronics, and Rising Stars Hi-Tech (Foxconn).
The domestic companies selected under the scheme are Dixon Technologies (India) Ltd, Lava International Ltd, Infopower Technologies, Optiemus, Bhagwati (Micromax) Neolync, Netweb, VVDN, Smile Electronics, and Panache Digilife.
The ICEA has been in talks with global brands like HP, Apple, Dell, Flex, Foxconn, Wistron, and their Electronics Manufacturing Services (EMS) companies to explore ways to help the IT manufacturing sector reach its full potential.
The Chairman of ICEA, Pankaj Mohindroo, mentioned that the world’s prominent EMS companies are already in India and Indian companies are also learning to develop electronics products for global OEMs.
ICEA is determined to make India the future global hub for electronics manufacturing together with the government, he added.
The IT hardware PLI scheme was notified on 3rd March and provides 4% to 2%/1% incentives on sales in a net incremental basis (over base year-FY20) of goods that fall in target segments manufactured in India to eligible companies for four years (FY22 to FY25).
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