In Short:
India’s PLI scheme will boost manufacturing, production capacities, and employment opportunities, says Flex executive. The scheme aims to strengthen the manufacturing ecosystem and attract investments in value chain. Flex, a major electronics manufacturer, sees India’s skilled talent pool as a strategic advantage. The company praises India’s efforts to promote indigenisation and self-reliance in manufacturing. Collaboration and focus on strengthening the ecosystem will position India well in global manufacturing landscape according to Flex.
India’s PLI Scheme to Boost Manufacturing Ecosystem: Flex
India’s Production Linked Incentive (PLI) scheme is set to enhance the manufacturing ecosystem, increase production capacities, and create employment opportunities in the country, according to Rob Campbell, President of Communications, Enterprise and Cloud at Flex.
Significant Initiative for Manufacturing Industry
Flex, formerly Flextronics International, is a leading electronics manufacturing services (EMS) and original design manufacturer (ODM) globally. Campbell highlighted that India’s significant domestic market and access to skilled talent pool give the country a strategic advantage.
In April 2020, the Indian government approved the PLI scheme for large-scale electronics manufacturing. Subsequently, on May 29, 2023, PLI 2. 0 for IT hardware was notified to boost domestic manufacturing and attract investments in the value chain. This scheme aims to make India a global hub for electronics manufacturing and position it as a key player in the global supply chain. The government’s focus on promoting local manufacturing and reducing dependence on imports has been evident in its latest telecom industry updates. By providing incentives and support to domestic manufacturers, the PLI scheme is expected to contribute significantly to the growth of the electronics and IT hardware industry in India.
Strengthening India’s Manufacturing Ecosystem
Revathi Advaithi-led Flex, a supplier of Apple’s iPhone components in India, operates as a $24 billion diversified manufacturing company with a global presence.
Campbell emphasized the importance of strengthening the component and semiconductor ecosystem to fully capitalize on India’s manufacturing momentum. He also lauded India’s self-reliance vision and recent initiatives to bolster local manufacturing.
Potential for Global Manufacturing Landscape
Despite COVID-19 disruptions, India’s focus on self-reliance has spurred the government to promote local manufacturing in key sectors such as electronics. Campbell expressed optimism about India’s potential in the global manufacturing landscape.
Flex believes that continued collaboration and a focused approach towards strengthening the component ecosystem and supply chain will position India as a key player in global manufacturing.
