News:Union Cabinet has approved three schemes to boost large-scale electronics manufacturing in India.
About the Schemes:
About Electronics Manufacturing Clusters(EMC2.0) Scheme:
- Nodal Ministry:Ministry of Electronics and Information Technology (MeitY).
- Aim:To create world class infrastructure along with common facilities and amenities through setting up of Electronics Manufacturing Clusters(EMCs) and Common Facility Centers(CFCs).
- These centres would help in a) growth of the Electronics System Design and Manufacturing (ESDM) sector b) development of the entrepreneurial ecosystem c) attract investments d) increase employment opportunities and e) tax revenues.
About Scheme for Promotion of manufacturing of Electronic Components and Semiconductors(SPECS):
- Aim:To offer financial incentive of 25% of capital expenditure for the manufacturing of goods that constitute the supply chain of an electronic product.
About Production Incentive Scheme (PLI) for Large Scale Electronics Manufacturing:
- Aim:To attract large investments in mobile phone manufacturing and specified electronic components, including assembly, testing, marking and packaging (ATMP) units.
- Under the scheme,the government will offer an incentive of 4-6% on incremental sales of goods manufactured in India and is expected to create a total of 8 lakh jobs.