Dixon's subsidiary Padget Electronics receives approval for disbursement of PLI incentive

Padget Electronics Private Limited ("Padget Electronics"), a Wholly Owned Subsidiary Company of Dixon Technologies (India) Limited has received approval for disbursement of Rs 53.28 Crores from Empowered Committee of MEITY- Government of India, under Production Linked Incentive Scheme for manufacturing of Mobile Phones (Domestic Companies).

Commenting on this occasion, Mr. Atul B. Lall, Vice Chairman & MD, Dixon Technologies (India) Ltd. said, "PLI Schemes are cornerstone for government's push for accomplishing the vision of an 'Atmanirbhar Bharat' and making domestic manufacturing globally competitive. Such flagships schemes help in creating domestic champions, encourage more investments and help in making India a competitive destination of electronics manufacturing. It is a proud moment that wholly owned subsidiary of Dixon is, by far, the first entity to receive disbursement approval from Government of India under PLI scheme. It is indeed a huge recognition and we, at Dixon, are committed to make more investments, create a component ecosystem & continue to migrate more to design led manufacturing."

Source : Equity Bulls

Keywords

DixonTechnologies PadgetElectronics PLIScheme DisbursementApproval