S Krishnan, Secretary at the Ministry of Electronics and Information Technology (MeitY), on Monday said there is immense potential for growth in India’s power electronics sector and that Production-Linked Incentive (PLI) scheme for electronics components will be implemented soon.Speaking at the Budget Verdict townhall event organised by CNBC-TV18, Krishnan said sustained focus is needed to take realise the potential of the power electronics segment.Further, he said the government is working on ironing out the PLI scheme for electronics components and said, “The scheme will be visible in FY26, sooner than later.”
Addressing funding concerns, Krishnan reassured stakeholders that financial support for the new scheme would not be an issue, saying “sufficient allocations” are available. He elaborated on the disbursement process, highlighting that payments would be made based on claims filed by companies, with efforts to process these claims as quickly as possible.Krishnan also praised the success of the mobile PLI scheme, noting that it has been the “best performer”, with disbursements aligning with expectations. This success serves as a benchmark for future initiatives aimed at bolstering India’s electronics manufacturing capabilities, Krishnan said.Krishnan’s remarks indicate a proactive approach by the government to foster growth and innovation in this sector. The PLI scheme is expected to stimulate the market further, paving the way for increased investment and development in power electronics.Also read: Exclusive | Not apprehensive of ‘tax base erosion’: Finance Secretary Tuhin Kanta Pandey
