Centre to launch Rs 10,000 cr sop scheme to boost chip ancillaries

In a bid to spur the establishment of electronic and semiconductor component plants in the country, the government is set to launch a revised incentive scheme of up to Rs 10,000 crore, according to a report by The Economic Times (ET).

This plan will be an overhauled version of the current Scheme for the Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and is likely to be launched at the start of the next fiscal year. Officials were quoted as saying that instead of the reimbursement method being executed now, the scheme could be organised to allocate funds on a “pari-passu” basis.