India cellular producer: Govt clears PLI incentive of Rs53 Cr for Dixon, turns into first agency to obtain sops beneath scheme

The corporate can be eligible to obtain round Rs 53 crore for the primary quarter of operation between October to December 2021, as incentive on incremental gross sales.

The motivation quantity can be disbursed to the corporate within the subsequent few days. The corporate had filed claiming incentives just for the October quarter to this point.

“Dixon’s case was taken up by the empowered group and our submissions have been authorized. It’s the first PLI that has been authorized by the federal government,” Sunil Vachani, CMD, Dixon Applied sciences, instructed ET.

ET reported on Wednesday that the empowered group is scheduled to fulfill on September 9 to take the ultimate name on the submissions of the chosen firms.

As per the earlier report, Dixon Applied sciences and Samsung have submitted the paperwork for claiming incentives, whereas others together with Apple contract producers Hon Hai (Foxconn) and Wistron are within the strategy of doing so.

Dixon, being a home manufacturing agency, needed to make investments Rs 50 crore to be eligible for the smartphone PLI scheme, and manufacture telephones price Rs 500 crore within the first yr.

This, whereas international companies needed to make investments Rs 250 crore and obtain a minimal incremental gross sales of Rs 4,000 crore.