Netweb Technologies Ltd receives PLI Incentive Under IT Hardware Scheme 2.0

Netweb Technologies is pleased to announce that it has received an incentive of ₹ 5,93,97,758 under the Production Linked Incentive (PLI) Scheme 2.0 for IT Hardware for the period from July 1, 2023, to March 31, 2024.

This approval underscores Netweb Technologies' contribution in advancing India's high-end computing manufacturing capabilities by providing world-class in-house design, SMT and production facilities, which are already in use for producing some of the world's most powerful systems attached with comprehensive solutions' ecosystem, aligning with the government's vision of 'Atmanirbhar Bharat' (Self-Reliant India). The incentive reflects the Government of India's recognition of our capabilities in delivering latest generation enterprise grade systems, scalable computing solutions and our successful adherence to the PLI Scheme's objectives—driving domestic innovation, self-sufficiency, and global competitiveness in high-performance computing infrastructure.

The incentive, granted under the Ministry of Electronics and Information Technology (MeitY)'s PLI Scheme, recognizes Netweb Technologies' contributions to domestic IT hardware production and innovation. Netweb's clear roadmap for manufacturing top bin technology platforms for coming years too shows our unwavering focus and commitment towards the "Make-in-India" mission. The company extends its sincere gratitude to the Government of India, MeitY, and all relevant authorities for their unwavering support and for fostering a conducive environment for local manufacturing.

Mr. Sanjay Lodha, Chairman & MD of Netweb Technologies, said, "We are honoured to receive this incentive, which reinforces our dedication to high-quality IT hardware manufacturing in India. This achievement reflects the success of the PLI scheme in boosting domestic production and creating employment opportunities. We remain committed to supporting the 'Make in India' initiative and contributing to India's growth as a global manufacturing hub."

Shares of Netweb Technologies India Limited was last trading in BSE at Rs. 1549.30 as compared to the previous close of Rs. 1512.10. The total number of shares traded during the day was 22587 in over 1850 trades.

The stock hit an intraday high of Rs. 1556.15 and intraday low of 1491.80. The net turnover during the day was Rs. 34573905.00.

Source : Equity Bulls

Keywords

NetwebTechnologiesIndia INE0NT901020 ComputersHardware Incentive PLIScheme