News Update

Jeff Bezos again topples Musk as world’s richest personIndia reiterates two-state solution on Gaza dispute39 killed in heavy rains and snowfall in AfghanistanChina sets 5% economic growth target for 2024CBDT promoting Voluntary Compliance through e-Verification Scheme-2021Houthi Minister says commercial ships entering Yemini waters need to take permitsST - Issuance of a consignment note is essential condition for classifying an activity under GTA Service; tax demand raised thereunder is not tenable where no consignment note is issued: CESTATMoD inks MoU with BEML, BEL & MIDHANI for indigenous development of Advanced Fuelling SystemCus - A final order does not get invalidated simply because in a related matter which was cause of initiation of action in the present proceedings, has now been remanded: CESTATMinister of Steel inaugurates India's 1st Green Hydrogen Plant in Stainless Steel SectorCus - Exemption under Notification No. 12/2012-CE is rightly denied in respect of goods which are imported & also not consumed in factory of production: CESTATRAV's Lifetime Achievement Awards Given to three Stalwarts of AyurvedaDelhi Govt Budget proposes Rs 1000 per month for womenCX - Reversal of Cenvat Credit is not warranted in terms of CCR, 2004, when by-product Bagasse is cleared from factory without payment of duty: CESTATKharge alleges BJP Govt banning exports of agri products to favour industrialists5 killed as car bangs into roadside tree in TelanganaPM to leave on 5-state tour today; to announce projects worth Rs 1.1 lakh CroreFM to inaugurate National Conference of Enforcement Chiefs of State and Central GST formationsST - In case of slump sale, there is no question of providing any service as per s.65(92) as well as s.65(55b) of the Finance Act, 1994: HC
 
Govt okays 27 manufacturers under PLI Scheme - 2.0 for IT Hardware

By TIOL News Service

NEW DELHI, NOV 20, 2023: BUILDING on the success of Production Linked Incentive scheme (PLI) for mobile phones, the Union Cabinet led by Prime Minister Narendra Modi had approved PLI Scheme - 2.0  for IT hardware on 17th May 2023. This scheme covers laptops, tablets, all-in-one PCs, Servers and Ultra Small Form Factor devices

Applications of 27 IT hardware manufacturers have been approved today. IT hardware of well-known brands such as Acer, Asus, Dell, HP, Lenovo, etc will be manufactured in India. The expected outcomes of this approval, over the tenure of the scheme are as follows:

- Employment: total of about 02 lakhs

- About 50,000 (direct) and about 1.5 lakh (indirect)

- Value of IT hardware production: 3 lakh 50 thousand crore rupees (42 billion US dollars)

- Investment by companies: 3,000 crore rupees (360 million US dollars)

Addressing industry captains and media, Minister of Railways, Communications and Electronics and IT Ashwini Vaishnaw informed that "23 out of 27 approved applicants are ready to start manufacturing on day zero".


POST YOUR COMMENTS
   

TIOL Tube Latest

Shri Shailendra Kumar, Trustee, TIOL Trust, giving welcome speech at TIOL Awards 2023




Shri M C Joshi, Former Chairman, CBDT




Address by Shri Buggana Rajendranath, Hon'ble Finance Minister of Andhra Pradesh at TIOL Awards 2023