As received good responses through the introduction of Production linked incentives schemes, the government is about to apply the scheme to MacBook and iPad manufacturing sectors.
The government sets to bolster the deal of manufacturing MacBooks and iPads in the country, has been keenly looking on encompassing the production-linked incentive (PLI) scheme for IT hardware to near or above Rs 20,000 crore against the existing outlay of Rs 7,350 crore as failed to attain the remarkable results.
The recommendation for improving the outlay has already been sent by the Ministry of Information and Broadcasting to finance and other ministers to bring a revolutionary change in the market.
The government wants to enhance Apple’s manufacturing ecosystem in a way to surpass the china-plus-one strategy, subject to global procurement of products.
“We have tasted success with iPhone production as Apple’s all the top manufacturers – Foxconn, Wistron, and Pegatron – are now making smartphones worth billions of dollars in the country. The next step for us is to get the production of MacBook and other products such as iPad in India,” a source told TOI.
The existing outlay of Rs 7,350 crore is hiked to nearly Rs 20,000 crore, in the earlier scheme, the government promised to provide incentive support of about 1 to 4 per cent over four years to the company, the new scheme aims to advance the level up to 5%. As the laptops and MacBooks fall under the ITA-1 rule, there is no possibility of imposing a duty of 20% on imports.
“We feel the earlier scheme was not adequate to meet the disability that companies confront while manufacturing in India. Therefore, an improved incentive plan with a larger find outlay will surely prompt companies to invest and lead to contributing heavily to the Make in India initiative,” a source added.
Due to the absence of a strong supplier base in the country as well as growing tensions with China, the company faced hardships while processing the manufacturing operations, thus the companies pushed recommendations to the government to ease the checks for allowing Chinese investments into India, the time to get permissions and approvals still take time while the government does not want to hand over the control to entities from the neighbouring countries.
The government looks for the possibility of accomplishing a ‘Joint Venture’ to support the Macbook and laptop manufacturing sectors to confront the ongoing situation.
Big companies are waiting to serve markets across the world. The ecosystem gradually building in India through the PLI schemes will strengthen and widen the markets extensively and will result in great earnings for the companies that drive to attain USD 5 trillion in GDP.Â
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