TN to attract industries qualified under Centre's PLI scheme: Stalin

  • IANS
  • Stock Market News
TN to attract industries qualified under Centre's PLI scheme: Stalin
Credit: © Reuters.

Chennai, Sep 30 (IANS) Tamil Nadu (NS: TNNP ) will try to attract industries that have qualified under the Central government's productivity linked incentive (PLI) scheme, Chief Minister M.K. Stalin said on Friday.

Inaugurating the Rs 1,100 crore smart phone factory of Taiwan's Pegatron near here he said the electronics industry has the capability to change the industrial map of the state.

Citing companies like Salcomp, Dell, Bosch (NS: BOSH ), Samsung (KS: 005930 ), Foxconn, Tata Electronics, and others having their plants in the state, he noted that Tamil Nadu contributes to 20 per cent of India's electronics production.

Stalin also expressed his happiness at Pegatron's decision for its second phase expansion in the state.

At the function, Union Minister of State for Electronics & Information Technology and Skill Development & Entrepreneurship, Rajeev Chandrasekhar said that the Pegatron investment is a symbol of partnership between the Centre and the states.

He said the partnership is to help India achieve the target of $300 billion in electronics manufacturing, from the current $75 billion.

The plant has been set up by the Taiwanese electronics major Pegatron under centre's PLI scheme.

Chandrasekhar also said the PLI scheme has played a big role in ushering in investments of about Rs 6,500 crore and employment of over 40,000 in electronics manufacturing, in Tamil Nadu alone.

Pointing to the success of Prime Minister Narendra Modi's well calibrated schemes like the Phased Manufacturing Programme (PMP) and the PLI, he said: "Mobile phone exports in India in 2015-16 were near zero. They have reached around Rs 50,000 crore. India used to be heavily dependent on imports of mobile phones. In contrast, today, 97 per cent of mobile phones used in India are products of domestic manufacturing."



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