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In a major step to reduce import dependence, the government is considering a production-linked incentive (PLI) scheme worth ?40,000 crore aimed at boosting local electronics component manufacturing. Sources from the Ministry of Electronics and Information Technology (MeitY) confirmed that a Cabinet note will soon be sent for consideration to accelerate the approval of the scheme, which targets reducing imports from countries like China and Hong Kong. “It’s under consideration, and we will soon seek the Cabinet’s approval to push the Indian component ecosystem,” said a senior official at MeitY. Recently, the Electronics Industries Association of India (Elcina) called for a ?72,500-crore support package to bolster local production of raw materials and reduce reliance on imports. According to Counterpoint Research, India imported $22.8 billion worth of electronic goods in the first quarter of the current financial year, slightly lower than the $23.4 billion in the previous quarter. In addition, the government is considering an extension of the import authorisation scheme for laptops, PCs, and tablets by three months, moving the deadline from December 31. Initially introduced in August 2023, the scheme imposed a licensing regime for imports of seven IT hardware products, but industry pushback from global companies like HP, Dell, Apple, and Lenovo led to a revision of the restrictions. Under the updated policy, importers of these items must now obtain import authorisations from the government, but there are no limits on the volume of imports. |
