The European Business Group is organising a Webinar with Joint Secretary, Mr. Saurabh Gaur (Electronics), The Ministry of Electronics and Information Technology on Thursday, May 21, 2020 from 4:00 – 5:30 hours.
MeitY has launched 3 schemes to attract and incentivize large investments in the electronics value chain and promote exports. The Government of India has notified the three schemes under the aegis of National Policy on Electronics 2019 (NPE 2019) on 1st April, 2020. These schemes provide incentives of upto INR 50,000 Crore (~ USD 7 Bn) to drive significant growth in the sector.Details of the schemes are given below.
- The Production Linked Incentive Scheme (PLI) scheme provides a production linked incentive to boost domestic manufacturing and attract large investments in mobile phone manufacturing and specified electronic components, including Assembly, Testing, Marking and Packaging (ATMP) units. The scheme includes an incentive of 4% to 6% on incremental sales (over base year) of goods manufactured in India and covered under target segments, to eligible companies, for a period of five (5) years subsequent to the base year 2019-20. The Scheme is open for applications for a period of 4 months initially which may be extended depending on the response and the prevalent situation. Support under the Scheme shall be provided for a period of five (5) years subsequent to the base year. Detailed information and Gazette Notification can be viewed at https://meity.gov.in/esdm/pli
- Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS):The Scheme provides financial incentive of 25% on capital expenditure for the identified list of electronic goods, i.e., electronic components, semiconductor / display fabrication units, ATMP units, specialized sub-assemblies and capital goods for manufacture of aforesaid goods. It will significantly increase component production in the country that will be useful for all segments of electronics including mobile, telecom, automotive, power, consumer electronics, medical electronics, IoT and other next generation devices. It will help offset the disability in domestic manufacturing, promote value addition and strengthen the electronics manufacturing ecosystem in the country. Detailed information and Gazette Notification can be viewed at https://meity.gov.in/esdm/SPECS
- Modified Electronics Manufacturing Cluster (EMC 2.0) scheme is aimed with the objective to address the disability by providing support for 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, to set up their manufacturing units in these clusters. Detailed information and Gazette Notification can be viewed at https://meity.gov.in/esdm/emc2.0
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