Government’s SPECS initiative to boost innovation: FICCI

NEW DELHI: The Federation of Indian Chambers of Commerce & Industry (FICCI) said that the recently-approved Scheme for Promotion of Electronic Components and Semiconductors (SPECS) will fuel innovation and Research & Development (R&D) activities in the electronics sector.

“This will bring stimulus to innovation with inclusion of incentive for Research & Development, a much-required step to enhance the scale of electronics manufacturing in India,” Manish Sharma, chairman, FICCI Electronics Manufacturing and president and CEO, Panasonic India and South Asia in a statement said.