Rs 50k cr schemes to attract electronics makers
Union IT and Telecom Minister Shri Ravi Shankar Prasad on Tuesday, unveiled the guidelines for 3 electronics manufacturing schemes – the Production-Linked Incentive Scheme (PLI), Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme. Notified by the Ministry of Electronics and IT (MietY) on April 1, the schemes have a total outlay of Rs 50,000 crore and strive to strengthen domestic manufacturing of five global and five Indian mobile phone makers.
According to the guidelines, the PLI Scheme shall extend an incentive of 4% to 6% on incremental sales (over base year) of goods manufactured in India and covered under the target segments, to eligible companies, for a period of five years subsequent to the base year.
Meanwhile, SPECS shall provide financial incentive of 25% on capital expenditure for the identified list of electronic goods. These encompass electronic components, semiconductor/ display fabrication units, Assembly, Test, Marking and Packaging (ATMP) units, specialized sub-assemblies and capital goods for manufacture of aforesaid goods.
The EMC 2.0 will provide enable the creation of world class infrastructure along with common facilities and amenities, including Ready Built Factory (RBF) sheds / Plug and Play facilities for attracting major global electronics manufacturers, along with their supply chains.