Sojo Manufacturing Services (AP) Pvt Ltd, a subsidiary of indigenous company Lava International, announced its government-approved application for the production-linked incentive (PLI) scheme for IT hardware on a Wednesday.
The company plans to manufacture various consumer electronic products, including smartphones, feature phones, accessories, tablets, laptops, and other IT hardware for Lava International, as well as for other Indian and global electronics brands. Dr. Rishi Bhatnagar, President of Lava International, expressed confidence that the government's support through the PLI scheme would significantly contribute to Lava's growth in the industry.
As part of the PLI 2.0 scheme for IT hardware, Sojo joins other companies in bolstering domestic production. The company, in an official statement, highlighted its strategic position alongside industry leaders to play a pivotal role in enhancing the global competitiveness of the Indian IT hardware sector.
The PLI 2.0 initiative for IT hardware, with a substantial budget of Rs. 17,000 crore, is designed to stimulate employment and create a competitive environment for IT hardware production within India.
The approval of Sojo Manufacturing Services (AP) Pvt Ltd's application for the PLI scheme for IT hardware reflects a strategic move by Lava International to strengthen its position in the consumer electronics market. By expanding its manufacturing capabilities through Sojo, Lava aims to produce a wide range of electronic products, including smartphones, tablets, and laptops, not only for its own brand but also for other Indian and global electronics companies.