India, March 17 -- The IT ministry has reportedly finalised a production linked incentive scheme (PLI) for manufacturing electronics components.

The PLI scheme will have an allocation of INR 23,000 Cr for a total period of six years, Indian Express reported.

With India having established itself as a prominent manufacturing hub for smartphones, the new scheme is aimed at increasing the local value addition.

The new scheme will target electronics components such as display modules, sub assembly camera modules, printed circuit board assemblies, lithium cell enclosures, resistors, capacitors and ferrites, among others.

"Overall, the government is targeting that the scheme will help generate 91,600 direct jobs over the six-year period, wit...