India opens application for Rs 50,000-crore schemes for electronics makers

New Delhi: Union Minister Ravi Shankar Prasad, on Tuesday, unveiled the guidelines for electronics manufacturing schemes with an aim to strengthen domestic manufacturing of five global and five Indian mobile phone makers.

The three Schemes namely, the Production-Linked Incentive Scheme (PLI), Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS) and Modified Electronics Manufacturing Clusters (EMC 2.0) Scheme, which were notified by the Ministry of Electronics and IT (MietY) on April 1, have a total outlay of Rs 50,000 crore.

The PLI Scheme shall extend an incentive of 4% to 6% on incremental sales (over base year) of goods manufactured in India and covered under the target segments, to eligible companies, for a period of five years subsequent to the base year.