HP, Dell, Apple, Samsung, Lenovo, Asus, Acer, and other major IT Hardware companies would benefit from the Indian government’s consideration of a registration procedure for imports without quotas and licensing restrictions at least for this fiscal year.
Officials with knowledge of the specifics claim that for the current fiscal year, the government will merely keep track of the origin and cost of devices as part of an import management system. Companies will be able to import however much they need to in order to meet demand. Quotas and other compliances will go into force later or at the beginning of the following fiscal year, according to officials. At a meeting with the industry on September 8 that was presided over by Minister of State for Electronics and Information Technology Rajeev Chandrasekhar, the government expressed its position.
Also read, Stock Market Live: Sensex gains 200 pts, Nifty at 19,900; Adani Ent leads
Major IT Hardware Companies Attended the Meeting:
Officials from the IT Hardware companies Apple, Dell, Samsung, HP, HPE, Acer, Asus, Apple, Cisco, and Intel as well as officials from the trade groups India Cellular & Electronics Association (ICEA) and the Manufacturers’ Association for Information Technology (MAIT) were present at the meeting.
The majority of the companies will start manufacturing under the plan on April 1 of next year, creating a supply gap that can only be filled by imports, according to an executive who attended the conference. “The government wants PLI for IT hardware 2.0 to be successful,” the executive added.
The Directorate General of Foreign Trade (DGFT) announced on 3 August that certain IT hardware products, such as laptops, tablets, PCs, servers, etc., would fall under the restricted category and would therefore require a licence, effective immediately. This announcement was made due to security concerns. The deadline was extended by the administration to November 1, 2023 after significant opposition.
The government has now informed the businesses that it will give them all the assistance needed to expand domestic manufacturing under the PLI Programme.
For more news, click here.