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Electronics manufacturing: Govt notifies three incentive schemes; likely to create lakhs of jobs

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  • Date Added: Apr 12, 2020
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FINANCIALEXPRESS APR-2020/PTI Under Make in India and Assemble in India campaigns, the ballooning electronics manufacturing sector has received an additional boost from the government. The Ministry of Electronics and Information Technology has notified the three schemes to grow electronics manufacturing in the country. The schemes that altogether offer incentives of nearly Rs 48,000 crore, were cleared by the cabinet last month. These include the promotion of manufacturing of electronic components and semiconductors, Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme, and Production Linked Incentive Scheme for large scale electronics manufacturing. The government’s notification states that the incentives for these schemes will be rolled out from 1st August and will initially be open for four months.