Government likely to introduce PLI scheme for hearables and wearable devices this month; big companies, including Samsung, LG expected to join

PLI Scheme: In an attempt to increase the export market share of hearables and wearables for India, the government is now going to bring the Production Linked Incentive Scheme (PLI scheme). Meity will launch the new PLI scheme in mid-April for both hearable and wearable devices, as reported by Zee Business’ Ambarish Pandey.

The government aims to achieve a target of 20 per cent contribution in the global market in this segment through PLI Scheme in the next 5 years, he added.

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A total provision of Rs 20,000-22,000 crore can be made in the scheme. The focus of the government is on producing more items for the segment in the country itself. Big companies, including Samsung, and LG, are expected to be involved in this. Apart from this, there is good news for Dixon, TVS Electronics, BPL Ltd, Nureca. The scheme is being brought to promote the manufacturing of smartwatches, fitness trackers, wireless hearing devices, VR / AR devices, and IoT products. A total provision of 20-22 thousand crores will be made in the scheme, according to Pandey.

Recently, the government announced the PLI scheme for the battery industry, OEM, auto component sector, AC, and LED lights. 

A move to promote Make in India for the world

The focus of the government is on Make in India for World. The government is trying to increase the manufacturing of devices in the country. Domestic and foreign companies are expected to participate in a big way. The government wants companies like Dixon, TVS Electronics, and BPL Ltd, which manufacture such devices, to apply for this scheme. It has a separate PLI scheme for semiconductors as well, Pandey said.

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डिक्सन टेक, न्यूरेका, BPL, TVS इलेक्ट्रॉनिक्स के लिए अच्छी खबर

Hearable, Wearable डिवाइस के लिए आएगी #PLI
इलेक्ट्रॉनिक्स & IT मंत्रालय जल्द लॉन्च करेगी स्कीम
स्मार्ट वॉच, फिटनेस ट्रैकर की मैन्युफैक्चरिंग के लिए स्कीम

जानिए पूरी खबर @pandeyambarish से. pic.twitter.com/OSvtnao4gD

— Zee Business (@ZeeBusiness) April 1, 2022