(MENAFN- KNN India)
Chennai, Sep 10 (KNN) In a significant move towards bolstering India's Atmanirbhar (self-reliant) initiative, HP Inc. has signed a Memorandum of Understanding (MoU) with Dixon Technologies' subsidiary, Padget Electronics, to manufacture HP laptops, desktops, and all-in-one PCs in Tamil Nadu.
This partnership, announced under the government's Production-Linked Incentive (PLI) 2.0 scheme, was disclosed in a regulatory filing on Monday.
The collaboration will see Padget Electronics managing production at a new 300,000-square-foot facility in Oragadam, Tamil Nadu. The plant is expected to create around 1,500 jobs initially and could reach an annual production capacity of 2 million units when fully operational. The first HP laptops manufactured at the facility are projected to be ready for shipment by February 2025.
At a media briefing, Electronics and IT Minister Ashwini Vaishnaw hailed the agreement as a significant stride for India's domestic manufacturing capabilities. "This is a major success for the PLI scheme under Prime Minister Narendra Modi ji's Make in India program," said Vaishnaw.
He also highlighted the rapid growth of India's electronics sector, noting that it has become a Rs 10 lakh crore industry employing over 10 lakh people, while continuing to be a critical export sector.
Ipsita Dasgupta, Managing Director of HP India, shared her optimism about the partnership, stating,“Through this collaboration, we aim to offer an enhanced portfolio of domestically manufactured products, blending HP's cutting-edge technology with Dixon's manufacturing expertise.”
Atul Lall, Vice Chairman and Managing Director of Dixon Technologies, emphasised that the partnership with HP would strengthen the availability of high-quality computing systems for Indian consumers.
The PLI Scheme 2.0 for IT Hardware, introduced on May 29, 2023, offers a 5 per cent incentive on net incremental sales for six years, encouraging companies to expand domestic manufacturing of laptops, tablets, PCs, and servers, while promoting semiconductor and IC production within India.
(KNN Bureau)
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