₹25,000 Crore PLI Scheme for Electronic Products on the Cards; Likely to be Introduced in Union Budget 2025

Giving thrust to localisation of electronic products, the finance ministry has given greenlight to a PLI scheme with an outlay of ₹25,000 crore.

After receiving the approval from the concerned ministry, the Ministry of Electronics and Information Technology (MeitY) will thereby seek approval from the Cabinet, post which the scheme will be announced in the upcoming budget.

The scheme will entail sub-assemblies PCB, batteries and display, along with camera modules, while also giving special emphasis to domestic manufacturing. Notably, this is also being done to reduce import dependence on China.

Reuters reported, “The new scheme will incentivise production of key components like printed circuit boards that will improve domestic value addition and deepen local supply chains for a range of electronics.”

The upcoming PLI scheme also aims to attract global as well as domestic businesses and propel them to create jobs in India’s manufacturing sector. The incentives for local production will in turn offset supply-chain risks and promote innovation with the industry.

The electronic production in the country has reported a twofold increase in the past six years clocking about $115 billion in 2024, led by Apple and Samsung. India is now the fourth largest supplier of smartphones.