An empowered committee headed by NITI Aayog CEO on Tuesday approved two beneficiaries, Foxconn India and Padget Electronics, under the production-linked incentive scheme (PLI) for large-scale electronics manufacturing.

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As per the NITI Aayog, Foxconn Hon Hai Technology India Mega Development Private Ltd (Foxconn India) is the first global company that has been approved to receive incentives under mobile manufacturing for the period August 1, 2021, to March 31 2022 based on its incremental investments and sales figures. The incentive amount approved is Rs 357.17 crore.

Today, the Empowered Committee headed by CEO @paramiyer_ approved incentives for the Large-Scale Electronics Manufacturing (LSEM) #PLI scheme.

Two companies, #PadgetElectronics and @HonHai_Foxconn, have qualified for the incentive of ₹58.29 cr & ₹357.17 cr, respectively. pic.twitter.com/ELr2ldqDuD— NITI Aayog (@NITIAayog) December 20, 2022

Foxconn India is owned by Hon Hai Precision Industry Company Ltd which is a part of the Foxconn Group. It is the world’s No. 1 manufacturer or assembler of mobile phones. Foxconn India is a Taiwanese multinational electronics contract manufacturer with its headquarters in Tucheng, New Taipei City.

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Further, Padget Electronics Private Ltd, a 100 percent subsidiary of Dixon Technologies Private Ltd, is the first domestic player that got approved by the empowered committee to receive an incentive under mobile manufacturing for the quarter of January–March 2022 based on its incremental investments and sales figures under the target segment mobile phones. The incentive amount approved is Rs 58.29 crore.

#PLI for LSEM is expected to bring in additional production worth ₹10,70,000 cr & generate employment for 7,00,000+ people.

Incentives of ₹415.46 cr were approved for @HonHai_Foxconn, a global company & #PadgetElectronics, a domestic company.