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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Cabinet greenlights Rs 23,000 crore e-parts production scheme
Cabinet has approved a Rs 23,000-crore programme to strengthen the electronics manufacturing supply chain. India is looking to grab a bigger share of the market as companies opt for ‘China Plus One,’ as well as create jobs.
The much-anticipated electronics component manufacturing (ECM) scheme is a move to increase domestic value addition and integrate with global value chains. It will be spread over six years and is expected to generate investment worth Rs 60,000 crore.
“We are already making very good progress in the semiconductor part of the value chain,” said Ashwini Vaishnaw, minister for electronics and IT, railways and information and broadcasting, referring to the production-linked incentive (PLI) scheme. “We have had super success in PLI-based finished products manufacturing. Now, we are covering sub-assemblies and bare components.”
Employment, turnover, capex criteria
The ECM scheme is expected to result in Rs 4.57 lakh crore of production and generate 91,600 direct jobs, apart from indirect employment opportunities.
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It provides differentiated incentives tailored to overcome specific disabilities for various categories of components and sub-assemblies so they can acquire technological capabilities and achieve economies of scale.
It has a one-year gestation period and the incentives are split across three different sets of criteria. For some companies, the target will be related to jobs and for others, it will be linked to turnover. It will be linked to capital expenditure incurred for
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