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Oakter secures approval in PLI 2.0, paving way for high-tech manufacturing
Industry News- Dec 06,23
Oakter is currently underway with the development of an indigenous tablet within the PLI framework, with plans to commence manufacturing within the next 90 days.
R.I.O.T. Labz has secured approval under the PLI 2.0 scheme, making it one of the 27 companies endorsed by the government for domestic IT hardware production. Recognised by its brand Oakter, a leading Indian electronics manufacturer specialising in IoT products, the company operates as an Original Design Manufacturer (ODM), overseeing the design and development of all its products. Oakter is currently underway with the development of an indigenous tablet within the PLI framework, with plans to commence manufacturing within the next 90 days.
Expressing enthusiasm about this achievement, Nithin K David, Co-founder at Oakter, commented, "Securing approval under the PLI 2.0 Scheme alongside industry giants like Dell, HP, Foxconn, Lenovo, and others is a testament to our capabilities in designing, developing, and undertaking large-scale manufacturing of high-quality IoT products. Rooted in innovation, quality, and agility, we have evolved into a trusted manufacturing partner for global businesses, and the PLI 2.0 will propel us to greater heights."
The primary objective of the PLI 2.0 scheme is to boost domestic manufacturing, aligning with India's efforts to position itself as a global hub for advanced manufacturing in the IT hardware sector. The six-year tenure of the PLI 2.0 scheme will see the collective investment of approximately Rs 3,000 crore by the 27 approved firms, with an anticipated production value of Rs 3.5 lakh crore (about $42 billion) during this period.
Projections indicate that the PLI 2.0 Scheme will contribute to a yearly growth of USD 6 billion (Rs 50,000 crore) in the Indian manufacturing market over the next six years. The scheme aims to redirect manufacturing from China to the domestic market and facilitate the export of locally produced IT hardware. The Ministry estimates that the PLI Scheme will generate direct employment for around 2 lakh individuals. Leveraging this opportunity, Oakter aims to create 30,000 new jobs under the PLI Scheme.
Committed to innovation, design, and manufacturing of cutting-edge electronic devices across diverse industries, Oakter, as an ODM brand, takes pride in its ability to deliver high-quality products tailored to the unique needs of customer-centric brands. With a foundation built on innovation, quality, and customisation, Oakter has emerged as a reliable manufacturing partner for businesses worldwide.
Source: Business Standard
Oakter
PLI 2.0
IT hardware production
IoT
Indian electronics manufacturer
R.I.O.T. Labz
Nithin K David
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