Scheme for the Promotion Of Electronics Manufacturing | UPSC CURRENT AFFAIRS
Scheme for the Promotion Of Electronics Manufacturing: Current Affairs
Scheme for the Promotion Of Electronics Manufacturing
Context – Ministry of Electronics and Information Technology has launched three incentive schemes with a total outlay of about ₹48,000 crore to boost large-scale manufacturing of electronics in the country.
Production Linked Incentive Scheme
- It deals with mobile phone manufacturing and specified electronic components. Initially, the government plans to incentivise 10 firms — five global and five locals.
- This scheme will provide incentives between 4-6% to the electronic companies, provided that they manufacture mobile phones and other electronic and Nano electronics components– transistors, diodes etc. in India.
- The objective of the scheme is to attract large foreign investments in the IT sector and will also encourage the Indian companies to expand their production units and presence in India.
Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS)
- The scheme will provide financial incentive of 25% on capital expenditure for the identified list of electronic goods which involve high value-added manufacturing.
- The Scheme will be applicable to investments in new units and expansion of capacity/ modernization and diversification of existing units.
- Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme.
This scheme has a provision to 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 in India.
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