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Central Government has announce three schemes to increasing electronics production in India. All these schemes are part of Aatmanirbhar Bharat Abhiyan. Governments objective is to attract global tech companies in India and also to grow local tech companies
Union Minister of Electronics and Information Technology RS Prasad has announced the schemes. The schemes are as mentioned below:
- First Scheme: Production Linked Incentive (PLI)
- Second Scheme: Scheme for Promotion of Electronic Components and Semiconductors (SPECS)
- Third Scheme: Electronics Manufacturing Cluster Scheme (EMC 2.0)
| Schemes: |
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| Benefits: | Boost manufacture of electronic device and components |
| Beneficiaries: | Electronic manufacturing companies |
| Lunched By: | Central Government |
| Lunched Date: | June 2020 |
| Websites: |
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Benefits:
- Production Linked Incentive (PLI): 4% to 6% incentive of total amount
- Scheme for Promotion of Electronic Components and Semiconductors (SPECS): 25% incentive of total amount
- Electronics Manufacturing Cluster Scheme (EMC 2.0): 50% incentive of the project cost
- Boost manufacture of electronic device and components
- Create jobs opportunities
Production Linked Incentive (PLI) Scheme:
- Total budget of the scheme is Rs. 40,995 crores
- Companies which manufactures electronics devices like mobile phone and other electronic components are beneficiaries of the scheme
- 4% to 6% incentive will provided under the scheme.
- Duration of scheme is five years.
- Application process will be valid till 31st July, 2020
- Incentive will be given from 1st August, 2020
- Apply online for the scheme at pli.ifciltd.com
Scheme for Promotion of Electronic Components and Semiconductors (SPECS):
- Under the scheme incentive of 25% are given to the tech companies for Plant set up, research and development, machinery, equipment, utilities and transfer of technology.
- Total investment for the scheme is of Rs.3,285 crores
- Active and passive components, semiconductors, specialized sub assemblies and Assembly Testing Making and Production (ATMP) also covered by the scheme
- Scheme is available for 5 years.
- Use the website specs.ifciltd.com for online application for the scheme
Electronics Manufacturing Cluster Scheme (EMC 2.0):
- Incentive of 50% of the project cost is given under the scheme i.e. Rs 3,762 crores
- Government is providing 200 acres of land area for set up of manufacturing plants
- Online portal for this scheme is emc20.stpi.in
Objects of the EMC 2.0 scheme:
- To grow the economy of India
- To create more jobs
- Increase foreign exchange savings
Eligibility:
- Scheme is applicable across the India
- Scheme is valid for electronics manufacturer
- It is applicable also for global tech companies
