Centre nod to incentive scheme of Rs 40,995 cr for electronics firms

In a move that may encourage global mobile device manufacturers such as the US-based Apple and South Korean major Samsung to make India one of their global hubs for exports, the Centre has announced a production-linked incentive (PLI) scheme with a budgetary allocation of Rs 40,995 crore. Under the scheme, which was approved by the Union Cabinet on Saturday, electronics manufacturers will be offered incentives ranging from 4 to 6 per cent on their incremental sales of goods manufactured in India for a period of five years.

Together with the PLI, the government also announced a scheme for Promotion of Manufacturing of Electronics Components and Semiconductors (SPECS) with an outlay of Rs 3,285 crore over eight years, and Electronics Manufacturing Clusters (EMC) 2.0 with a budget of of Rs 3,762.25 crore spread over eight years.