IT-Company Secures Major Government Incentive of Rs 5,93,97,758, Boosting India's Self-Reliance Mission
The company is committed to advancing India's position as a global manufacturing hub, with a clear roadmap for producing top-tier technology platforms.
Netweb Technologies India Limited has been awarded an incentive of Rs 5,93,97,758 under the Production Linked Incentive (PLI) Scheme 2.0 for IT Hardware, covering the period from July 1, 2023, to March 31, 2024. This incentive highlights the company's significant role in enhancing India's high-end computing manufacturing capabilities, aligning with the government's 'Atmanirbhar Bharat' initiative. The Ministry of Electronics and Information Technology (MeitY) has recognized Netweb Technologies for its contributions to domestic IT hardware production and innovation. The company is committed to advancing India's position as a global manufacturing hub, with a clear roadmap for producing top-tier technology platforms.
Mr. Sanjay Lodha, Chairman and Managing Director of Netweb Technologies, expressed gratitude for the government's support, stating, "We are honoured to receive this incentive, which reinforces our dedication to high-quality IT hardware manufacturing in India." The company continues to focus on driving domestic innovation and self-sufficiency in high-performance computing infrastructure.
Netweb Technologies India Limited, established in 1999, is a prominent provider of high-end computing solutions in India, with comprehensive design and manufacturing capabilities. The company specializes in high-performance computing systems, private cloud and hyper-converged infrastructure, AI systems, enterprise workstations, and high-performance storage solutions. Netweb Technologies operates a manufacturing facility in Faridabad, Haryana, capable of producing over 200 server models and 50 workstation models. The company has installed over 500 supercomputing systems and 5,000 AI systems globally.
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In FY24, the revenue contribution from supercomputing systems was 36 per cent, while private cloud and HCI accounted for 37 per cent. The company serves diverse industries, including IT, BFSI, and government sectors, with a clientele that includes prestigious institutions like IIT Jammu and IIT Kanpur. Netweb Technologies collaborates with leading technology partners such as Intel and Nvidia to innovate and tailor products to customer needs. The company is expanding its presence in Europe and the Middle East and has launched new product lines, including network switches and 5G ORAN appliances.
Disclaimer: The article is for informational purposes only and not investment advice.