Electronics incentive schemes launched

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News: The Ministry of Electronics and Information Technology has launched three Electronics incentive schemes.

Facts:

Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors(SPECS):

  • Aim: To help offset the disability for domestic manufacturing of electronic components and semiconductors in order to strengthen the electronics manufacturing ecosystem in the country.
  • Under this, the government will provide a financial incentive of 25% on capital expenditure for a list of products that constitute the supply chain of electronic products such as electronic components, semiconductor, specialized sub-assemblies.

Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme:

  • Aim: To develop world class electronics manufacturing infrastructure by providing support for setting up of Electronics Manufacturing Clusters (EMCs) and Common Facility Centres(CFCs).

Production Linked Incentive Scheme(PLI):

  • Aim: To offer production linked incentive to boost domestic manufacturing and attract large investments in mobile phone manufacturing and specified electronic components.
  • Under this, the government will provide an incentive of 4% to 6% on goods manufactured in India and covered under target segments to eligible companies for a period of five years.