Hailing the selection by the Indian government of an Israeli firm for electronics manufacturing in India, Israeli Ambassador Ron Malka has said the development signifies his country’s alignment with Prime Minister Narendra Modi’s ’Aatmanirbhar Bharat’ and ’Make in India’ vision.
The Ministry of Electronics and Information and Technology (MeitY) has approved 16 eligible applicants under the Production Linked Incentive Scheme (PLI).
The PLI for Large Scale Electronics Manufacturing extends an incentive of 4 per cent to 6 per cent on incremental sales (over the base year) of goods under target segments that are manufactured in India to eligible companies, for a period of five years subsequent to the base year (FY2019-20).
Welcoming the development, Malka tweeted, “Delighted that NeoLync, an Israeli company is a part of UTL-NeoLync that was selected by the Indian government for electronics manufacturing in India, an important addition to the list of Israeli companies already actively participating in @PMOIndia’s Make In India, export and Atmanirbhar Bharat vision.”
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