Panache DigiLife announces inclusion in revised PLI Scheme 2.0 for IT hardware

Panache DigiLife Limited has announced its esteemed selection under the Production Linked Incentive (PLI) Scheme 2.0 for IT Hardware. This scheme, orchestrated by the Ministry of Electronics and Information Technology (MeitY), represents a significant stride in the company’s journey towards enhancing its manufacturing capabilities. The approval, communicated by IFCI Ltd as the Project Management Agency appointed by MeitY, marks a new chapter in Panache DigiLife’s technological evolution.

Enhancing Manufacturing Ecosystem through PLI Scheme 2.0

The PLI Scheme 2.0 for IT Hardware aims to broaden and deepen India’s manufacturing ecosystem. It focuses on localizing component production and developing a robust supply chain within the country. The scheme offers increased flexibility for applicants, with incentives linked to incremental sales and investment thresholds. This approach not only incentivizes growth but also includes semiconductor design, integrated circuit (IC) manufacturing, and packaging as incentivized components, reflecting the scheme’s comprehensive nature.

Panache DigiLife’s Strategic Withdrawal from Earlier PLI Scheme

With the approval of the PLI 2.0 Scheme, Panache DigiLife’s application under the earlier PLI Hardware scheme shall stand withdrawn. This decision aligns with the company’s strategy to leverage the enhanced benefits and opportunities presented in the updated scheme.

27 Applicants Approved, Panache DigiLife Among the Chosen Few

The Ministry of Electronics and Information Technology has approved 27 eligible applicants under the PLI Scheme for IT Hardware, and Panache DigiLife Limited is proud to be one of the select few. This approval underscores the company’s commitment to technological advancement and local manufacturing.

A Step Forward in India’s IT Hardware Sector

Commenting on this significant achievement, Amit Rambhia, Chairman and Managing Director of Panache DigiLife Limited, expressed excitement and pride in being selected for the Indian IT Hardware PLI 2.0 in the domestic category. He emphasized the importance of local manufacturing, technological innovation, and the contribution this will make to both the Indian and global IT hardware sectors. The incentives received from the PLI Scheme 2.0 will facilitate further investments by the company, boosting its capabilities and market presence.

This selection of Panache DigiLife Limited for the PLI Scheme 2.0 marks a milestone in the Indian IT hardware industry, indicating a positive trajectory towards self-reliance and technological leadership in the global market.