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