In a major development for India's electronics manufacturing sector, Electronics and IT Minister Ashwini Vaishnaw announced a strategic collaboration between HP India and Padget Electronics, a Dixon Technologies subsidiary. The partnership falls under the government’s Production-Linked Incentive (PLI) 2.0 scheme, aimed at bolstering domestic production of IT hardware. An MoU has been signed between the companies to enhance the manufacturing of desktops, laptops, and all-in-one personal computers in Tamil Nadu, India.
Vaishnaw hailed the HP-Padget collaboration as a significant milestone in strengthening India’s local manufacturing capabilities. He described it as a key achievement of the PLI scheme, which supports the broader "Make in India" initiative aimed at transforming the country into a global manufacturing hub.
HP India and Padget Electronics Signed MoU
According to a report by Fortune India, Padget Electronics is establishing a state-of-the-art, 300,000-square-foot manufacturing facility in Oragadam, Tamil Nadu.
At a press briefing, Vaishnaw emphasized the rapid growth of India's electronics sector, stating, “In the last 10 years, the electronics industry has grown exponentially, now valued at over ₹10 lakh crore. The sector has created around 10 lakh jobs across the country and has emerged as a key exporting industry.”
The upcoming HP-Padget facility in Tamil Nadu will initially employ approximately 1,500 workers, with further employment growth expected as production scales up. The first laptops from this new factory are scheduled for shipment in February 2024.
The PLI Scheme 2.0, introduced in 2023, offers financial incentives of up to 5% on net incremental sales for goods manufactured domestically. The scheme targets IT hardware production, providing support to eligible companies for six years, further driving India's ambitions in electronics manufacturing.
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