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TMI BlogGovt announces Rs 22,919 cr scheme to promote electronics component mfgX X X X Extracts X X X X X X X X Extracts X X X X ..... Govt announces Rs 22,919 cr scheme to promote electronics component mfg X X X X Extracts X X X X X X X X Extracts X X X X ..... passive electronic components. The Union Cabinet approved the 'Electronics Component Manufacturing Scheme' with an aim to develop a robust supply chain by attracting large global as well as domestic investments in the electronics component manufacturing ecosystem. The initiative is also expected to increase domestic value addition (DVA) by developing capacity and capabilities, and integrating ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Indian companies with Global Value Chains (GVCs). The domestic production of electronic goods has risen from Rs 1.90 lakh crore in FY 2014-15 to Rs 9.52 lakh crore in FY 2023-24, reflecting a compound annual growth rate (CAGR) of over 17 per cent. Giving details about the Cabinet decision, Electronics and IT Minister Ashwini Vaishnaw said the scheme will create direct employment for 91,600 peo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ple and attract investment of around Rs 59,350 crore. "Passive components are approved under the Electronics Component scheme. It has a total package of Rs 22,919 crore. This will be for over six years," Vaishnaw said. The minister said that that segment will serve the requirements of several sectors, including telecom, consumer electronics, automobile, medical devices, power sector etc. He ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... said that the scheme is expected to lead to production of Rs 4.56 lakh crore. The tenure of the scheme is six years with a one-year gestation period. Meanwhile, an official release said that the Electronics Component Manufacturing Scheme provides differentiated incentives to Indian manufacturers tailored to overcome specific disabilities for various categories of components and sub-assemblies ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so that they can acquire technological capabilities and achieve economies of scale. The target segments include sub-assemblies (display module and camera module), and bare components (Non-Surface Mount Devices, electro-mechanicals, multi-layer Printed Circuit Board (PCB), Li-ion cells, and enclosures for mobile, IT hardware products & related devices), which will receive turnover-linked incentiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es. Selected bare components like high-density interconnect (HDI), modified semi-additive process (MSAP), flexible PCB, and SMD passive components will get hybrid incentives, the release said. Payout of a part of the incentive is linked with employment targets achievement. Furthermore, components and capital goods used in electronics manufacturing will receive capex incentives. Exports of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... electronic goods have grown from Rs 0.38 lakh crore in FY 2014-15 to Rs 2.41 lakh crore in FY 2023-24, achieving a CAGR of more than 20 per cent. PTI ANK PRS NKD NKD MR MR X X X X Extracts X X X X X X X X Extracts X X X X
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