The ₹23,000 crore Electronics Components Manufacturing Scheme aims to boost domestic production of electronic parts like resistors and capacitors over six years. It offers turnover, capex, and hybrid incentives to attract long-term investment, reduce imports, save foreign reserves, and create jobs, strengthening India’s position in global electronics manufacturing.
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Government launches the Electronics Components Manufacturing Scheme.
The Ministry of Electronics and Information Technology (MeitY) has announced a new initiative called the Electronics Components Manufacturing Scheme.
The Ministry has finalized a ₹23,000 crore policy for electronic components manufacturing over six years to enhance domestic value addition.
India wants to become a global leader in electronics manufacturing, just like how it became a big name in smartphone exports. Last year, India exported smartphones worth ₹2 lakh crore, including ₹1.5 lakh crore of iPhones alone. Over the past 10 years, India’s electronics production grew five times, and its exports grew six times.
Currently, India makes finished products like phones and TVs. The next step is to make components of these devices. This is where the real value and self-reliance come from. This will also save foreign reserves and create jobs.
This new scheme is designed to support many industries at once, like consumer electronics (phones, TVs), medical devices, cars, and power systems.
It will focus on passive components, like resistors, capacitors, and switches. These are simpler parts compared to active components like chips, which are handled by the India Semiconductor Mission (ISM).
The scheme will help companies that make machines and tools used in electronics factories.
The scheme will provide three types of incentives to companies:
These incentives aim to encourage companies to invest and stay for the long term because making electronic parts requires a lot of capital and time.
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